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**Understanding Resistance and Support in Trading**

In trading, the concepts of resistance and support are fundamental to technical analysis. **Support** refers to a price level where a stock or asset tends to stop falling and start rising. This happens because the demand is strong enough to prevent the price from declining further. Traders often see support as a “floor” that prices rarely fall below. Identifying strong support levels can offer potential entry points for buying.

On the other hand, **resistance** is the price level at which an asset faces selling pressure, preventing it from rising further. Think of it as a "ceiling" that the price struggles to break through. When a stock reaches resistance, traders might consider selling as it could indicate a potential drop in price.

Spotting these levels is crucial for traders as it helps in making informed decisions. If a stock breaks through a resistance level, it might indicate a strong bullish trend, while breaking below support could signal a bearish trend. Mastering the identification of support and resistance can enhance trading strategies and lead to more profitable trades.#MtGoxRepayments #BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek