A 3.8% drop means nothing without context. Let's use $NEAR to learn support/resistance.
Right now price sits at $3.546 with volume at $90M. Here's the concept: support isn't a line on a chart, it's a battle zone where buyers historically defend.
When price approaches a prior support level, you need to watch volume closely. High selling volume that breaks through = support failed, expect further downside. Low volume at support = sellers are exhausted and a bounce is likely.
The $90M volume tells us whether this 3.8% dip has real teeth or is just thin-weekend noise. If volume shrinks as price nears your support zone, that's your divergence signal. Smart traders wait for the volume confirmation before acting, not the price tag.
What's one support level you're watching on your current holdings?
We post every algo signal's real result openly and the full live track record plus a free preview channel are in our bio.
#SupportResistance #TradingTips
Right now price sits at $3.546 with volume at $90M. Here's the concept: support isn't a line on a chart, it's a battle zone where buyers historically defend.
When price approaches a prior support level, you need to watch volume closely. High selling volume that breaks through = support failed, expect further downside. Low volume at support = sellers are exhausted and a bounce is likely.
The $90M volume tells us whether this 3.8% dip has real teeth or is just thin-weekend noise. If volume shrinks as price nears your support zone, that's your divergence signal. Smart traders wait for the volume confirmation before acting, not the price tag.
What's one support level you're watching on your current holdings?
We post every algo signal's real result openly and the full live track record plus a free preview channel are in our bio.
#SupportResistance #TradingTips