Making a note: $MAGIC broke through the 0.11 level.
People often ask what a round-number level means, so here’s my take.
Support and resistance are really zones, not precise decimal price points. It’s normal for prices to seesaw back and forth nearby.
The first pullback after breaking above a level is often seen as a test: if the price can stabilize near that level, the idea that resistance has turned into support is more likely to hold.
Understanding this indicator helps you avoid being misled by the numbers; it’s not meant to predict whether prices will rise or fall.
Just my personal opinion—don’t use it as a basis for buying or selling.
People often ask what a round-number level means, so here’s my take.
Support and resistance are really zones, not precise decimal price points. It’s normal for prices to seesaw back and forth nearby.
The first pullback after breaking above a level is often seen as a test: if the price can stabilize near that level, the idea that resistance has turned into support is more likely to hold.
Understanding this indicator helps you avoid being misled by the numbers; it’s not meant to predict whether prices will rise or fall.
Just my personal opinion—don’t use it as a basis for buying or selling.