$METIS /USDT

In trading and technical analysis, identifying key price levels like support and resistance is crucial for making informed decisions. Support is a price level where a stock or asset tends to stop falling and may start to rise due to increased buying interest. It acts as a "floor" that supports the price. On the other hand, resistance is a level where the price tends to stop rising and may begin to fall due to increased selling pressure. It acts as a "ceiling" that resists further upward movement.

Spotting these levels can help traders predict potential price movements and make strategic trades. For instance, if a stock's price is nearing a support level, a trader might consider buying, anticipating that the price will bounce back. Conversely, if the price approaches a resistance level, selling might be wise, expecting a potential decline.

These levels are not absolute and can be broken, leading to significant price movements. A break above resistance might signal a bullish trend, while a break below support could indicate a bearish trend. Thus, understanding support and resistance helps traders navigate market dynamics and enhance their trading strategies.

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