$1INCH /USDT

When trading in financial markets, understanding the concepts of support and resistance is crucial. **Support** refers to a price level where a downtrend can be expected to pause due to a concentration of demand. As the price declines towards support, buyers become more inclined to purchase the asset, preventing it from falling further. This area can be identified by previous lows, moving averages, or Fibonacci levels, among other indicators.

**Resistance**, on the other hand, is the opposite—a price level where an uptrend can be expected to pause due to a concentration of selling interest. As the price rises toward resistance, sellers become more inclined to sell the asset, preventing it from climbing higher. Like support, resistance can be identified using various tools like previous highs, trendlines, or specific technical indicators.

Traders use these levels to make informed decisions. A break above resistance could signal the continuation of an uptrend, while a break below support might indicate the beginning of a downtrend. However, these levels are not infallible and can be breached, leading to new support and resistance levels being established. Understanding these#MtGoxRepayments #BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek