Support (technical analysis)

• In technical analysis, the term “support” denotes a price level at which a token consistently attracts buying interest, effectively preventing its price from declining further.
• This level acts as a safety net for investors, who view it as an attractive point to enter the market. When the price approaches support and rebounds, it reinforces the strength of that level.
• Additionally, the more times a price tests a support level without breaking through, the stronger it is considered.
• Understanding support can help traders identify potential entry points and make informed decisions about when to buy or hold a token.

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