A quick note: $ETH fell below the 2,500 level.
People often ask what a round-number level means. Here’s how I understand it.
Common criteria for judging whether a breakout is valid include: the close is on the other side of the level, a pullback fails to reclaim it, and trading volume picks up as the level is crossed.
The first rebound after a breakdown is often seen as a litmus test: if the price is pushed back down near the level, that lends more weight to the idea that support has turned into resistance.
Reading indicators isn’t hard. The hard part is still following the rules when emotions are at their most extreme.
#ETH
People often ask what a round-number level means. Here’s how I understand it.
Common criteria for judging whether a breakout is valid include: the close is on the other side of the level, a pullback fails to reclaim it, and trading volume picks up as the level is crossed.
The first rebound after a breakdown is often seen as a litmus test: if the price is pushed back down near the level, that lends more weight to the idea that support has turned into resistance.
Reading indicators isn’t hard. The hard part is still following the rules when emotions are at their most extreme.
#ETH