$NEIRO /USDT

Support and resistance are key concepts in technical analysis that traders use to predict potential price movements in financial markets. Support refers to a price level where a downward trend tends to pause due to increased buying interest. At this level, buyers step in, creating demand, which prevents the price from falling further. It acts as a "floor" for the asset, providing stability.

On the other hand, resistance is the opposite. It refers to a price level where upward momentum halts due to a surge in selling activity. At this point, sellers gain control, preventing the price from rising further. Resistance acts as a "ceiling," capping price growth temporarily.

Understanding these levels is crucial for traders. When the price breaks below support, it may indicate further declines, while a break above resistance might signal an uptrend. Traders often buy at support and sell at resistance, maximizing profit within these zones. However, support and resistance are not fixed points; they shift with market trends, making it essential for traders to adjust their strategies accordingly. By mastering these concepts, traders can better anticipate market movements and make informed decisions.

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