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Supports and Resistances: Basic Guide to Identify and Use Them

What are Supports and Resistances?

Supports and resistances are key levels in technical analysis that help predict possible changes in the direction of an asset's price (stocks, cryptocurrencies)

Support: Level where the price tends to stop falling due to higher demand (buyers enter).

-Resistance: Level where the price tends to stop rising due to higher supply (sellers appear).

👉 Imagine them as "floors" (supports) and "ceilings" (resistances) that the price bounces off time and time again.