📊 Data: $QNT ｜The 190 level has been breached
· Definition: A commonly cited rule is that a resistance level that has been decisively broken often becomes a support level later on; a support level that has truly been broken often turns into resistance later on.
· How to interpret it: When a price returns to a level after many days, it often encounters people who bought around that level earlier and are now looking to get out at breakeven or add to their positions, so trading activity tends to pick up.
The same reading can mean very different things in different market conditions, so don’t apply any single rule mechanically.
#QNT
· Definition: A commonly cited rule is that a resistance level that has been decisively broken often becomes a support level later on; a support level that has truly been broken often turns into resistance later on.
· How to interpret it: When a price returns to a level after many days, it often encounters people who bought around that level earlier and are now looking to get out at breakeven or add to their positions, so trading activity tends to pick up.
The same reading can mean very different things in different market conditions, so don’t apply any single rule mechanically.
#QNT