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Mastering altcoin trading strategies with Fibonacci retracement levels
Fibonacci retracement levels are key tools for predicting potential support and resistance areas in altcoin trading. Derived from a sequence of numbers identified by Leonardo Fibonacci, traders use these levels—such as 23.6%, 38.2%, 50%, and 61.8%—to gauge price retracements, aiding in making informed buy or sell decisions and managing trading risks.