$GHST /USDT

In trading, "support" and "resistance" are fundamental concepts that help traders identify potential price levels where assets may reverse or pause their movement. Support refers to a price level where an asset tends to find buying interest, preventing it from falling further. It's like a floor that keeps prices from dropping. Traders watch these levels closely, expecting the price to bounce upwards when it reaches support.

On the other hand, resistance is a price level where selling interest becomes strong enough to prevent the asset from rising further. It acts as a ceiling, limiting upward movement. When the price hits resistance, traders expect it might pull back or consolidate as sellers step in.

These levels are not fixed and can shift based on market conditions, but they offer valuable insight for predicting potential price movements. If support is broken, it can turn into resistance, and if resistance is breached, it can turn into support. Traders use this knowledge to make informed decisions on entry and exit points, increasing the probability of successful trades. Understanding support and resistance is essential for technical analysis and improving trading strategies.

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