When the price of cryptocurrency drops consistently, support is a price level at which the downtrend is expected to pause. In other words this is were the dip is expected to STOP. When does this happen? it happens when an influx of buyers looking to buy the currency at a lowered price or when people buy the dip.
Now, resistance is created at a price level where currency holders are looking to book profits.
You can use one of the methods listed below to check the support and resistance:
Trendline Indicator
Fibonacci Numbers
Peaks and Valleys
Moving Average
