$WCT 📈 Support and Resistance Explained! 🚀
Understanding support and resistance levels is key for traders who want to make better buy or sell decisions. Let’s use the WCT/USDT chart to explain these terms:
🔹 Support
A price level where the price often stops falling and may bounce back up.
Example: On the chart, 0.9821 (the 24-hour low) is a recent support level where buyers stepped in.
🔹 Resistance
A price level where the price often stops rising and may fall back down.
Example: The 1.3941 level (the 24-hour high) is where sellers pushed the price lower.
👀 In the chart, WCT/USDT is in a strong uptrend. The EMA lines show momentum is bullish. However, RSI is at 93, which means the price is overbought — a pullback might happen.
💡 Trading Tip:
Buy near support levels and sell near resistance levels.
Wait for confirmation before making trades — don’t rush!
Using support and resistance can help you trade smarter and manage risks. 📊 Happy trading! 🚀$WCT