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Resistance and support levels are defined as price points or ranges of an asset (stock, cryptocurrency, etc.) that serve as upper and lower price barriers. These ranges are determined by historical prices and can be crossed.
A resistance level is a value that you can expect a cryptocurrency to stay above. A support level is a value that you can expect a cryptocurrency to stay below. Both levels can be found by looking at a price chart.
Both resistance and support levels often happen at or near even numbers like: $10, $50, $1,000, but it can happen at any price.
Resistance and support levels often occur because of supply and demand. A resistance level means that at that range, demand from buyers became weaker and/or the supply from sellers increased. A support level means that demand from buyers grew stronger and/or the supply from sellers weakened.
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