A quick note: $CAP broke through the 0.09 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 a certain level, the more likely the distribution of positions around that level has changed. The support or resistance from back then may no longer be valid.
Round-number levels mean different things for different coins: more people watch major levels for top coins, while round-number levels are often much less useful as a reference for small-cap coins.
All indicators simply summarize what has already happened in the market, which can turn in the opposite direction at any time.
Don’t treat this as a buy or sell signal.
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 a certain level, the more likely the distribution of positions around that level has changed. The support or resistance from back then may no longer be valid.
Round-number levels mean different things for different coins: more people watch major levels for top coins, while round-number levels are often much less useful as a reference for small-cap coins.
All indicators simply summarize what has already happened in the market, which can turn in the opposite direction at any time.
Don’t treat this as a buy or sell signal.