Support and resistance is one of the easiest and most common strategies used by crypto traders. Support is the price level where a coin usually stops falling because buyers start entering the market. Resistance is the level where the price often stops rising because many traders begin to sell. These two levels help traders understand where the market might change direction.
Traders often try to buy near the support level and sell near the resistance level to make profit from price movements. When the price breaks above resistance, it may continue rising, and when it falls below support, it may drop further. By watching these levels on a chart, beginners can make better trading decisions and reduce unnecessary risk. 📊
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