Welcome to the newest installment of our Daily Crypto Levels Deep-Dive, where we unpack the crucial support and resistance benchmarks for a curated list of 100 crypto tokens.
We’ve got you covered from market giants like Bitcoin and Ethereum to the lesser-known but promising small and mid-cap tokens.
For those new to the game or needing a refresher, we offer a succinct primer on the concept of support and resistance levels right up front. Seasoned traders, feel free to bypass this introductory section and dive straight into the data you’ve been waiting for.
Crypto Support and Resistance Levels: A Brief Overview
- Crypto Support Level: This is a price level where a downtrend is expected to pause due to a demand concentration. Essentially, it’s a safety net or floor where the price seems to bounce off. Traders perceive it as an attractive point to buy a particular cryptocurrency, assuming that it will not fall below.
- Crypto Resistance Level: Conversely, this level represents a point where increasing supply prevents the price from rising any further. It’s perceived as a ceiling, with the price seeming to hit a wall and subsequently receding. This is generally considered a sell point, with the anticipation that the price will not break past this point.
How Crypto Support and Resistance Levels Support Your Trading Activities
Having these levels at your fingertips allows for informed decisions, helping to optimally time entries and exits from positions. Moreover, we added a price column to give you a snapshot of the most recent trading price, allowing for an evaluation of the market’s current stance.
As you navigate this comprehensive data set, we hope it is a beneficial tool in your cryptocurrency trading and investment journey. Understanding these levels is pivotal in creating successful strategies, potentially leading to profitable ventures in the vibrant cryptocurrency market.
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