In order for this to be true:
$$ \lim_{x\to a}f(x) = L $$
(or, in English: the limit of f(x) approaches L as x approaches a.)
This must also be true:
$$ \forall \epsilon > 0, \exists \delta>0 \text{ such that } 0<|x-a|<\delta \implies |f(x)-L| < \epsilon $$
Now: what does that actually mean?
We know that $|x-a|$ is the distance on our horizontal axis between $x$ and where the limit is being evaluated, and that $|f(x)-L|$ is the distance on our vertical axis between $f(x)$ and the value of the limit.
Therefore, rewritten in layman’s terms, the equation above becomes:
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For ANY positive epsilon, there exists a positive δ, such that:
Then, in order for the limit to actually exist, the existence of such a δ must imply that the distance between $f(x)$ and $L$ can similarly become infinitely small, as $|f(x)-L|<\epsilon$ for any positive $\epsilon$, no matter how small.
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TL;DR: in order for a limit to exist at $x = a$, you have to be able to get $f(x)$ really close to the limit $L$ (from either direction) by simply having $x$ being really close to $a$ (from either direction)
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The above conditions must be true in order for the limit to exist!
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also, a funny little note: δ must be written in terms of $\epsilon$! not in terms of $x$ or other such things — delta is a function of epsilon
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The formal definition of $\displaystyle\lim_{x\to a^+}f(x) = L$ is: