Support levels are price points on a chart where a stock or asset tends to stop falling and may even bounce back up. These levels indicate a strong demand for the asset, as buyers are willing to purchase it at that price. When the price approaches a support level, it often signals a potential buying opportunity for traders. If the price breaks below a support level, it may indicate a shift in market sentiment, leading to further declines. Traders often use support levels in conjunction with other tools, such as technical analysis and trend lines, to make informed decisions about buying or selling assets.