$NIGHT has fallen below the 0.05 level and is now at 0.04969.
Around key price levels, I usually look at three things:
① Closing price: An intraday break doesn’t count; it’s only a confirmed break if the price closes below 0.05.
② Rebound: Can it climb back above around 0.05? If it can’t, support has turned into resistance.
③ Volume: Did trading volume increase during the breakdown? Breaks on lower volume are more likely to be reversed.
Around key price levels, I usually look at three things:
① Closing price: An intraday break doesn’t count; it’s only a confirmed break if the price closes below 0.05.
② Rebound: Can it climb back above around 0.05? If it can’t, support has turned into resistance.
③ Volume: Did trading volume increase during the breakdown? Breaks on lower volume are more likely to be reversed.