🗂️ Data: $EIGEN ｜Breaking through the 0.25 level
· What it is: A large number of stop-loss orders often cluster around a key level. If the price moves past it, those stops can be triggered all at once, often causing volatility to spike.
· How to read it: The first rebound after a break is often seen as a test. If the price is pushed back near the level, that lends more weight to the idea that support has turned into resistance.
Don’t change your pace based on a single indicator, and don’t gamble borrowed money on one reading.
· What it is: A large number of stop-loss orders often cluster around a key level. If the price moves past it, those stops can be triggered all at once, often causing volatility to spike.
· How to read it: The first rebound after a break is often seen as a test. If the price is pushed back near the level, that lends more weight to the idea that support has turned into resistance.
Don’t change your pace based on a single indicator, and don’t gamble borrowed money on one reading.