Price rejection describes a technical analysis pattern where an asset’s price attempts to move past a significant support or resistance level but is quickly pushed back. This indicates that market participants are unwilling to sustain the price at the attempted new level. It often signals a strong area of supply or demand that is preventing further price movement in that direction. This action suggests a potential reversal or continuation of the prevailing trend.
Context
In crypto market analysis, price rejection at key psychological or technical levels is frequently highlighted in news reports as an indicator of market sentiment. Traders often interpret these events as signals to adjust their positions or anticipate short-term price movements. Observing price rejection at resistance suggests sellers are dominant, while rejection at support indicates strong buying interest.
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