A quick note: $ZRO has broken through the 2 level.
People often ask what a round-number level means. Here’s how I understand it.
A support level is an area where prices have repeatedly stopped falling in the past. A resistance level refers to a price range that prices have repeatedly failed to rise above.
The first rebound after a break below is often seen as a test: if the price is turned back near that level, the idea that support has become resistance is more convincing.
Don’t change your plan just because of a number, and don’t use borrowed money to test a particular reading.
#ZRO
People often ask what a round-number level means. Here’s how I understand it.
A support level is an area where prices have repeatedly stopped falling in the past. A resistance level refers to a price range that prices have repeatedly failed to rise above.
The first rebound after a break below is often seen as a test: if the price is turned back near that level, the idea that support has become resistance is more convincing.
Don’t change your plan just because of a number, and don’t use borrowed money to test a particular reading.
#ZRO