$SFP /USDT

In trading, understanding support and resistance levels is crucial for making informed decisions. These levels act as psychological barriers where the price of an asset tends to react, either reversing its direction or breaking through to new levels.

**Support** is the price level where an asset tends to find buying interest, preventing it from falling further. Traders view it as a "floor" because prices tend to bounce back up when they reach this level. Support is often formed when prices repeatedly hit the same level without dropping lower, signaling strong demand.

**Resistance**, on the other hand, is the price level where selling interest surfaces, halting the asset's upward momentum. It's considered a "ceiling" because prices often struggle to rise above it. Resistance levels form when prices hit a certain point and repeatedly fail to move higher, indicating that sellers are dominating.

When prices break through these levels, it can indicate a significant shift in market sentiment. A break above resistance may suggest the start of an uptrend, while a break below support could signal the beginning of a downtrend. Monitoring these levels helps traders identify potential entry and exit points, manage risk, and improve their overall trading strategies.#MtGoxRepayments #BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek