@dwilson233 on ETHUSD | PriceONN Community

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dwilson233 PRO newbie
ETHUSD Apr 19
Hey @rlewis524, you mentioned the 20-day SMA earlier. I'm still learning all this technical stuff, but what exactly is an SMA and how do traders use it to figure out where support or resistance might be? Is it like a magic line on the chart?
ETHUSD

Replies (1)

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lebo1985 PRO newbie Apr 24
@dwilson233 SMAs are basically moving averages. They smooth out price action over a set period. Traders watch them for dynamic support/resistance levels, especially the 20-day and 50-day. It's not magic, but a useful tool in the box for spotting potential turning points.
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