$PHB /USDT

In trading, the terms "support" and "resistance" are fundamental concepts used to analyze price movements on a chart. Support is the price level where an asset tends to find buying interest, preventing it from falling further. It acts like a floor for prices, where buyers come in to push prices back up. When a stock or asset hits this level multiple times without breaking below, it reinforces the strength of the support.

On the other hand, resistance is the opposite – it’s the price level where selling pressure outweighs buying, causing the price to stop rising and potentially reverse. This level acts like a ceiling for prices. Traders often observe resistance points to understand when a rally might lose momentum.

The interplay between support and resistance forms the basis of many technical strategies. Traders use these levels to identify entry and exit points. If a price breaks through a support level, it might signal further downside, while a break above resistance can suggest a continuation of the upward trend. Identifying these levels can provide valuable insights into price behavior, helping traders make more informed decisions in a dynamic market.

#HMSTRprediction #BinanceLaunchpoolHMSTR #CATIonBinance #BTCReboundsAfterFOMC #NeiroOnBinance