A classic moment for chart watchers: $UNI breaks through the 7 level.
On a candlestick chart, round-number levels are just ordinary numbers. To us, though, they’re psychological barriers.
A quick explainer: the general rule of thumb is that a resistance level that’s decisively broken often becomes support, while a support level that’s decisively broken to the downside often becomes resistance.
Understanding this indicator helps you avoid being intimidated by the numbers; it’s not for predicting tops and bottoms.
#UNI
On a candlestick chart, round-number levels are just ordinary numbers. To us, though, they’re psychological barriers.
A quick explainer: the general rule of thumb is that a resistance level that’s decisively broken often becomes support, while a support level that’s decisively broken to the downside often becomes resistance.
Understanding this indicator helps you avoid being intimidated by the numbers; it’s not for predicting tops and bottoms.
#UNI