$YGG /USDT

When discussing financial markets, particularly trading, the terms "support" and "resistance" are crucial. These concepts represent specific price levels on a chart that traders and analysts closely monitor.

**Support** is a price level where a downtrend can be expected to pause due to a concentration of demand. As the price declines towards this level, buyers tend to step in, creating a floor that prevents the price from falling further. If the price breaks below this level, it may signal a new, lower support level.

**Resistance**, on the other hand, is a price level where an uptrend may pause or reverse due to a concentration of selling interest. When the price approaches this level, sellers often become more active, creating a ceiling that the price struggles to break through. If the price surpasses this level, it can signal the start of a new bullish trend.

Identifying support and resistance levels helps traders make informed decisions, such as where to enter or exit a trade, set stop losses, or take profits. They serve as a basic yet powerful tool in technical analysis, offering insights into market psychology and potential future price movements.#TON #DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #PowellAtJacksonHole