Just saw: $OGN fell below the 0.04 level.
People often ask how to interpret round-number levels. This is how I see it.
The longer it’s been since the price last reached this level, the more the distribution of positions around here may have changed. Past support and resistance may no longer hold.
Breaking through a level only shows that one side has the upper hand at this moment. How far the price moves afterward depends on where the next key level is and whether trading volume can be sustained.
Any indicator only describes price action that has already happened. The market could just as easily move in the opposite direction.
#OGN
Crypto trading involves risk. Trade with caution.
People often ask how to interpret round-number levels. This is how I see it.
The longer it’s been since the price last reached this level, the more the distribution of positions around here may have changed. Past support and resistance may no longer hold.
Breaking through a level only shows that one side has the upper hand at this moment. How far the price moves afterward depends on where the next key level is and whether trading volume can be sustained.
Any indicator only describes price action that has already happened. The market could just as easily move in the opposite direction.
#OGN
Crypto trading involves risk. Trade with caution.