#CurrencyPairPrediction Support and resistance levels are fundamental concepts in technical analysis, representing key price points on a chart where the price has historically tended to stop or reverse. Support levels are price levels where buying pressure has been strong enough to prevent the price from falling further. As the price approaches a support level, buyers may step in, creating demand and potentially pushing the price back up. Conversely, resistance levels are price levels where selling pressure has been strong enough to prevent the price from rising higher. When the price nears a resistance level, sellers may become active, increasing supply and potentially causing the price to fall. These levels are not always impenetrable barriers; they can be broken. However, they often act as psychological thresholds for traders, influencing their buying and selling decisions. Identifying potential support and resistance levels can help traders anticipate possible price reversals, set stop-loss orders, and determine potential profit targets. Common methods for identifying these levels include analyzing previous highs and lows, trendlines, and Fibonacci retracement levels. The more often a level has been tested and held, the more significant it is considered.