The importance of support and resistance levels:
Support and resistance levels are used by traders to make buying and selling decisions.
For example, a trader might buy a cryptocurrency when it falls to a support level, hoping that the price will rise again.
On the other hand, a trader may sell a cryptocurrency when it reaches a resistance level, hoping that the price will fall.
note:
Support and resistance levels are not always foolproof and can be broken.
It is important to use support and resistance levels along with other technical indicators and fundamental analysis when making investment decisions.
