$PEPE has moved above the 0.0₅41 level.
Guys, how should we understand support and resistance? Here’s the short version 👇
There are usually lots of stop-loss orders clustered around key levels. Once the price crosses one, those stops can be triggered all at once, often causing volatility to spike suddenly.
It’s very common for the price to break through a level and then retreat, so many people wait for the candle to close for confirmation rather than jumping in the moment it breaks through.
The same indicator can mean very different things in different market conditions, so don’t blindly apply a rule of thumb.
#PEPE
Guys, how should we understand support and resistance? Here’s the short version 👇
There are usually lots of stop-loss orders clustered around key levels. Once the price crosses one, those stops can be triggered all at once, often causing volatility to spike suddenly.
It’s very common for the price to break through a level and then retreat, so many people wait for the candle to close for confirmation rather than jumping in the moment it breaks through.
The same indicator can mean very different things in different market conditions, so don’t blindly apply a rule of thumb.
#PEPE