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It's common knowledge that market could be driven by news, fundamentals, technicals, sentiment, volume, etc.
In the short term, however, it could be very easily pushed up or down by a lack of volume. Some people describe this situation as "vacuum": there's no resistance whatsoever. Zero. None. Bids and offers are all withdrawn and if someone just gives price a slight push, it'll shoot all the way up or down.
That's why you want to avoid a thin market, a market that very few players are participating.