How does support work in crypto trading?

Sign up for CoinDesk’s Learn Crypto Investing Course. On the other side, traders may say there’s “support” around a price point or range for an asset, meaning the price tends to bounce back up whenever the asset nears that price because investors now see it as a bargain, and will swoop in and buy it, stopping further drops in price.

What is a support level in crypto trading?

What is a Support Level? In crypto trading, support is the price level at which an asset is expected to experience significant buying pressure. In other words, a region where a bearish trend is thought to experience temporary resistance or total reversal.

How do I buy cryptocurrency?

If you’re interested in buying cryptocurrency, you need to open an account with a crypto exchange. There are around 500 exchanges to choose from, and Forbes Advisor combed through the leading crypto exchanges to determine the best crypto exchange for both new and experienced investors. Join eToro and get $10 of free Crypto! (US Only)