A note: $ARB broke above the 0.19 level.
People often ask how to interpret key price levels. Here’s how I see it.
A commonly observed pattern is that resistance levels decisively broken often become support later, while support levels decisively breached often turn into resistance.
The first rebound after a level is lost is often seen as a test: if the price is pushed back down near that level, it lends more credence to the idea that support has turned into resistance.
Confirmation from multiple indicators is more reliable than relying on just one, but even more signals don’t guarantee a definitive conclusion.
People often ask how to interpret key price levels. Here’s how I see it.
A commonly observed pattern is that resistance levels decisively broken often become support later, while support levels decisively breached often turn into resistance.
The first rebound after a level is lost is often seen as a test: if the price is pushed back down near that level, it lends more credence to the idea that support has turned into resistance.
Confirmation from multiple indicators is more reliable than relying on just one, but even more signals don’t guarantee a definitive conclusion.