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3 Crypto Stocks With Clear Support Levels

May 6, 2021 5:51 pm
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3 Crypto Stocks With Clear Support Levels

Many cryptocurrencies are moving higher. At the same time, many cryptocurrency stocks are moving lower. Some are getting close to support. That means they could rebound.

They include Square, Inc. (NYSE:SQ), SOS Limited (NYSE:SOS) and Marathon Digital Holdings, Inc. (NASDAQ:MARA).

At support levels, there's more demand for the shares than there is supply. Sellers can sell all they need to without pushing the price any lower.

Sometimes stocks rally after they reach support.

This happens when some of the buyers who created the support decide to pay higher prices. This causes the price to move higher. It could happen with these three stocks.

See Also: Best Cryptocurrency In 2021

The $205 level was support for Square in late January, and twice in March. A rally followed each time. If the shares reach $205 again there's a good chance there will be support once more.

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Over the past month, there has been support for SOS at the $3.95 level. There’s a chance it rebounds off this level.

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Since February, the $28.75 level has been support for MARA on multiple occasions. A move higher followed each time. If the shares reach the support again there’s a chance they stage another rebound.

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