Indicator Notes｜$HYPE ｜Breaking the 80 level
First, a definition: the more times a price level is tested, the more weight traders tend to give it. But some argue that repeated tests may instead deplete the orders resting there.
A common way to read it: breaking through a level only shows that one side has the upper hand for now. Whether the move can continue depends on where the next key level lies and whether trading volume can be sustained.
Comparing multiple indicators is generally more reliable than looking at just one, but even more signals cannot provide a definitive answer.
First, a definition: the more times a price level is tested, the more weight traders tend to give it. But some argue that repeated tests may instead deplete the orders resting there.
A common way to read it: breaking through a level only shows that one side has the upper hand for now. Whether the move can continue depends on where the next key level lies and whether trading volume can be sustained.
Comparing multiple indicators is generally more reliable than looking at just one, but even more signals cannot provide a definitive answer.