Support And Resistance | Earn From Crypto(lec-10)
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Support is a price level viewed horizontally, expected to hold or prevent the price of an asset from falling further. Meanwhile, resistance is the price level that stops the value of an asset from going higher. Users use support and resistance indicators to decide whether to buy or sell assets. Support is a price level where a downtrend is expected to pause; similarly, resistance is the price level where an uptrend is expected to break. As the price of a crypto asset drops, its demand increases, thus forming the support zone. Similarly, resistance zones arise due to selling interest when prices have increased.
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We briefly explain the support and resistance concept in cryptocurrency or any trading market. This article is going to be very helpful for you. THANKS!
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