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What is Support & Resistance?
Support is a price level where buying pressure tends to prevent further decline. Resistance is a level where selling pressure tends to cap rises. They are key levels for placing trades.
Full Explanation
Support and resistance are foundational concepts in technical analysis. Support is a price level where demand (buying) historically outweighs supply (selling), creating a "floor." Resistance is where supply outweighs demand, creating a "ceiling." When support breaks, it often becomes resistance (and vice versa). These levels form from historical price action, psychological round numbers (₹50,000, $100,000), moving averages, and trendlines. Traders use S/R to plan entries, exits, and stop-losses.
Example
Bitcoin repeatedly bounced off $60,000 support in 2024. When it finally broke below, $60,000 became resistance on the way back up.