$ZRO has fallen below the 1.8 level.
Let’s use this figure to unpack the significance of round-number levels.
The longer it’s been since the price last reached this level, the more the distribution of positions around it is likely to have changed. The balance of bullish and bearish forces at the time may no longer hold.
It’s not uncommon for prices to break through a level and then fall back below it. That’s why many people wait for the candle to close and hold above the level before counting it as a breakout, rather than jumping in as soon as it’s crossed.
Several data points that confirm one another are more reliable than any single one, but no amount of signals can provide a definitive answer.
#ZRO
Let’s use this figure to unpack the significance of round-number levels.
The longer it’s been since the price last reached this level, the more the distribution of positions around it is likely to have changed. The balance of bullish and bearish forces at the time may no longer hold.
It’s not uncommon for prices to break through a level and then fall back below it. That’s why many people wait for the candle to close and hold above the level before counting it as a breakout, rather than jumping in as soon as it’s crossed.
Several data points that confirm one another are more reliable than any single one, but no amount of signals can provide a definitive answer.
#ZRO