$NEAR /USDT

In trading, identifying "support" and "resistance" levels is crucial for making informed decisions. Support refers to a price level where a downtrend can pause due to a concentration of buying interest. Essentially, it's the price level at which buyers tend to step in and purchase, preventing the asset from dropping further. When prices hit a support level and bounce upwards, it suggests that demand exceeds supply, making it a critical zone for traders looking to buy or enter long positions.

On the other hand, resistance is the opposite—it's a price level where an uptrend may stall due to selling pressure. At this point, sellers outnumber buyers, causing the price to reverse or consolidate. Traders often use resistance levels to exit long positions or initiate short trades.

Support and resistance levels can be identified through technical analysis tools like trendlines, moving averages, and chart patterns. Breaking through these levels is significant; when a price breaks above resistance, it signals potential continued upward momentum, whereas breaking below support suggests further declines. Mastering the art of spotting these levels allows traders to better time their entries and exits, enhancing trading performance and risk management.

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