$FLUX /USDT

To effectively trade, understanding the concept of support and resistance is essential. These key levels help traders identify potential points where the price might reverse or stall. **Support** is the price level at which a stock or market tends to find buying interest as it declines, preventing the price from falling further. It's like a floor, where demand increases, keeping the price from dropping below a certain level.

On the other hand, **Resistance** is the price level at which a stock or market faces selling pressure as it rises, preventing the price from climbing higher. Think of it as a ceiling, where the supply increases, stopping the price from going up any further.

Traders often use support and resistance to make informed decisions. For instance, buying near support can be advantageous as the price may bounce back, while selling near resistance can be beneficial as the price might drop from that level. However, once these levels are broken, they can reverse roles; previous resistance can become support, and vice versa.

Recognizing these levels can enhance trading strategies, enabling traders to predict price movements more effectively and manage risks better.#MtGoxRepayments #BinanceLaunchpoolDOGS #TelegramCEO #PowellAtJacksonHole #CryptoMarketMoves