Support
| Support is a technical analysis term that refers to a level that keeps the price of an asset stable and prevents it from going down. This level is determined by analyzing past price movements and identifying areas where the price found support and bounced back up. When the price of an asset is falling and approaches the support level, buyers step in and start buying the asset, which prevents the price from falling further. The support level acts as a floor, and the price usually bounces back up from this level. If the price falls below the support level, it is said to be breaking down through support, and this is usually a sign that further downside is ahead. |
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