Just saw: $ICNT broke through the 0.35 level.
People often ask how to interpret round-number levels, so here’s my take.
A support level is a price range where prices have repeatedly stopped falling. A resistance level is a price range that prices have repeatedly struggled to rise above.
Price swings often become larger around these levels, so leveraged positions need more room here. Stop-losses set too close to round-number levels can easily get triggered.
All indicators summarize price movements that have already happened, and the market can move in the opposite direction at any time.
#ICNT
People often ask how to interpret round-number levels, so here’s my take.
A support level is a price range where prices have repeatedly stopped falling. A resistance level is a price range that prices have repeatedly struggled to rise above.
Price swings often become larger around these levels, so leveraged positions need more room here. Stop-losses set too close to round-number levels can easily get triggered.
All indicators summarize price movements that have already happened, and the market can move in the opposite direction at any time.
#ICNT