🗂️ Latest data: $USELESS ｜Broke above the 0.16 level (current price: 0.16, now back below the level)
· Definition: A support level is an area where the price has repeatedly stopped falling; a resistance level is an area the price has repeatedly failed to rise above.
· How to read it: The first rebound after a break below is often seen as a litmus test: if the price is turned back below the level, the idea that support has turned into resistance gains credibility.
Understanding this indicator is about avoiding being spooked by the numbers, not using it to predict price movements with precision.
· Definition: A support level is an area where the price has repeatedly stopped falling; a resistance level is an area the price has repeatedly failed to rise above.
· How to read it: The first rebound after a break below is often seen as a litmus test: if the price is turned back below the level, the idea that support has turned into resistance gains credibility.
Understanding this indicator is about avoiding being spooked by the numbers, not using it to predict price movements with precision.