What does ‘support’ mean in the context of crypto market?
What does ‘support’ mean in the context of crypto market?
I’ve seen this word sometimes in news and analysis about Ethereum, for example.
I’m absolutely new to this stuff, ok.
Gihan Wijethunga Answered question January 29, 2025
We, in crypto, need emotional support occasionally 😁.
JK, supports are levels where the price bounces off on the way down, preferably multiple times. Strong buy pressure point.
Resistance is the opposite.
Gihan Wijethunga Answered question January 29, 2025