$WOO /USDT

When trading in financial markets, understanding support and resistance levels is crucial. These levels act as psychological barriers where the price of an asset tends to reverse or consolidate before making its next move.

**Support** refers to a price level where a downtrend can be expected to pause due to a concentration of demand. As the price of an asset drops to this level, buyers are likely to enter the market, halting further decline. In essence, it’s a floor beneath the price.

**Resistance**, on the other hand, is the opposite. It’s the price level where an uptrend may be halted as selling pressure increases. At this point, sellers outnumber buyers, causing the price to stall or reverse direction. Think of it as a ceiling above the price.

Traders often use these levels to make strategic decisions. For instance, they might buy near support and sell near resistance. However, when the price breaks through these levels, it can signal a continuation of the current trend. Understanding how to spot and utilize support and resistance can significantly improve your trading outcomes, providing key entry and exit points in volatile markets.#MtGoxRepayments #BinanceLaunchpoolDOGS #CryptoMarketMoves #BinanceBlockchainWeek #LowestCPI2021