Make a note: $AVAX fell below the 8.5 level.
People often ask what key price levels mean. Here’s how I understand them.
One pattern is that a resistance level that has been decisively broken often turns into support later; a support level that has been decisively broken often turns into resistance afterward.
Round-number levels mean different things for different coins: more people watch major round-number levels for mainstream coins, while round numbers are often much less useful as reference points for small-cap coins.
Cross-checking several data points is safer than looking at just one, but even more indicators still can’t give you a definitive answer.
People often ask what key price levels mean. Here’s how I understand them.
One pattern is that a resistance level that has been decisively broken often turns into support later; a support level that has been decisively broken often turns into resistance afterward.
Round-number levels mean different things for different coins: more people watch major round-number levels for mainstream coins, while round numbers are often much less useful as reference points for small-cap coins.
Cross-checking several data points is safer than looking at just one, but even more indicators still can’t give you a definitive answer.