$INIT lost the 0.15 level, having last been here 6 days ago.
When I first got into the scene, I didn’t understand why everyone watched round-number levels. Later, I realized that traders like to place limit orders and stop-losses around round numbers, so orders cluster there and the battles near those levels naturally become more intense. Over time, they turn into psychological levels.
The first pullback after a breakout is often seen as a test: if the price can stabilize near the level, the idea that resistance has turned into support becomes more convincing.
Comparing several data points is more reliable than looking at just one, but even more signals can’t provide a definitive answer.
Take it with a grain of salt—don’t buy based on this. Make your own judgment.
When I first got into the scene, I didn’t understand why everyone watched round-number levels. Later, I realized that traders like to place limit orders and stop-losses around round numbers, so orders cluster there and the battles near those levels naturally become more intense. Over time, they turn into psychological levels.
The first pullback after a breakout is often seen as a test: if the price can stabilize near the level, the idea that resistance has turned into support becomes more convincing.
Comparing several data points is more reliable than looking at just one, but even more signals can’t provide a definitive answer.
Take it with a grain of salt—don’t buy based on this. Make your own judgment.