XRP is approaching its previous key bottom of 2.22. Let's wait for it to drop a little more and stay alert for entry signals. If it goes below 2.22, that is already a danger signal, so stay alert. XRP ⬇️⬇️⬇️
These values are too low, it is not possible to convert all of them. You would need to transfer an additional amount to them, so that then you can convert all.
BNB made its wonderful rise! Those who paid attention and waited for the best moment were rewarded. Congratulations to everyone who kept an eye out 😳. It had a drop to 618 and a rise to 642. Congratulations Traders 💪 #Sol e #Bera also surprised us.
Support and resistance are concepts of technical analysis that identify price levels where the market may have difficulty rising or falling. They are fundamental for understanding supply and demand and are used in trading strategies.
Support
It is the price level where demand is greater than supply.
It is the reaction of buyers to a price drop.
It is found at lower points on the chart, where the price has difficulty breaking through and continuing its decline.
Resistance
It is the price level where supply is greater than demand.
It is the reaction of sellers to a price increase.
It is found at higher points on the chart, where the price has difficulty overcoming and continuing its rise.
How to identify
Support is graphically identified by a line connecting several lows.
Resistance is graphically identified by a line connecting several highs.
Importance
Identifying support and resistance allows for planning the trading of the asset before it reaches these levels.
Breaking through price regions can increase the potential for gains.
BNB has broken its support line more than once and is expected to fall further. It is good to stay alert and wait for the rebound. It could go back to 632 and even go beyond.