Support is a price level where buying interest historically emerges, preventing further downward price movement. Support levels form when an asset repeatedly finds buyers at certain prices due to value perception, technical factors, or fundamental considerations. Strong support levels often provide reliable entry points for long positions.

Support levels can be horizontal (specific prices), dynamic (moving averages), or psychological (round numbers). When support is broken with volume, it often becomes resistance for future rallies. Understanding support helps identify potential reversal points, risk management levels, and entry opportunities in technical analysis.

Real-world example: Gold consistently finds support at $1,800 per ounce over several months, with buyers emerging at this level preventing further declines, until fundamental changes eventually break support and drive prices lower.