Glossary
Support
A price area below the current price where declines have stopped and turned higher before.
Support is a zone where buying has repeatedly outweighed selling, stopping declines. It is usually drawn from earlier swing lows and works best as an area rather than a single exact price.
On Chartora’s chart desk, the nearest support is the highest swing low below the latest close, where a swing low is a daily close lower than the four closes on each side.
When price closes clearly below support, the old level often acts as resistance on a later bounce. Support also tends to break more often when the larger trend is down.
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For education only, not financial advice. Crypto assets and stocks are volatile, and leveraged positions can lose more than the money you put in.