Hi Everyone,

✍️SUPPORT and RESISTANCE✍️

Support and resistance are two foundational concepts in technical analysis.

✨Support

Support is the level at which demand is strong enough to stop the stock from falling any further. In the image above you can see that each time the price reaches the support level, it has difficulty penetrating that level. The rationale is that as the price drops and approaches support, buyers (demand) become more inclined to buy and sellers (supply) become less willing to sell.

✨Resistance

Resistance is the level at which supply is strong enough to stop the stock from moving higher. In the image above you can see that each time the price reaches the resistance level, it has a hard time moving higher. The rationale is that as the price rises and approaches resistance, sellers (supply) become more inclined to sell and buyers (demand) becom less willing to buy.

EXAMPLE;

🔸COTI COIN Support and resistance

#COTIUSDT #CYBER #cryptocurrency #BTC