Hello my dear Friends of Tron Fan Club.
How are you my all friends of this great and wonderful community? I hope my all friends will be good and happy, by the grace of God I am also happy and well. Today i will try to explain about support and resistance. After understanding the candlestick, next step is to understand the basic concept of support and resistance. Support and Resistance is the main step to do the technical analysis.
Support and Resistance:
Support is the Level, from where the price will not goes down. Foe example, if the market is in down trend but on any point it will stop to down, so this point is called support point or support level. At the support level the market will pull back because at support level, a lot of traders set the buying orders. The amount of seller is less than as compare to buyer at support level. It mean that the sellers which are causing the market to go down have no capacity to face the pending buying order. At the support level the buying orders are in heavy amounts according to sell orders. Support level always fall below the current market price. First i will cover all technical analysis with theoretically and covering the whole basic thing then we will start the practical things.
Now we talk about the resistance level. resistance level works opposite to the support level. Resistance is such a level where the market does not goes up. For example, if the market is in upward trend and the price of coins and tokens are going up. Such a level will come from which prices will not rise, The market price hit this level and then goes down. This level is known as resistance level. There are too many pending sell order on resistance level that is why price goes down because when the price hit the resistance level and the pending selling order automatically completed that make the reason of price down.
Thank You Guys For giving your precious time on my Post.
