What are the key support and resistance levels in cryptocurrency trading?

1 answers

• May 11, 2022 · 3 years ago
  Support and resistance levels are crucial in cryptocurrency trading. They are like the walls that the price needs to break or bounce off. Support level acts as a floor, preventing the price from falling further. Resistance level acts as a ceiling, preventing the price from rising higher. These levels are important because they provide traders with potential entry and exit points. When the price approaches a support level, it could be a good time to buy. When the price approaches a resistance level, it could be a good time to sell. So, keep an eye on these levels and make your trading decisions accordingly. Happy trading!
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