Price support resistance describes specific price levels on a financial chart where an asset’s downward movement tends to pause or reverse (support) or its upward movement tends to pause or reverse (resistance). These levels are significant because they indicate areas of concentrated buying or selling interest among market participants. Support levels act as a floor, while resistance levels function as a ceiling, influencing future price action. They are key indicators for technical analysis.
Context
Price support resistance is a widely utilized concept in cryptocurrency technical analysis, frequently cited in market commentary and trading strategies. News reports often reference these levels when discussing potential price movements for major digital assets like Bitcoin or Ethereum. Traders monitor these zones closely for potential entry or exit points, and a decisive break above resistance or below support often signals a change in market trend.
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