In technical analysis, support levels refer to the price level at which buying activity is expected to be strong enough to prevent the price from falling further. It is a level where there is enough demand for the asset that the market sees the price as attractive to buy, and as such, the price is unlikely to break below that level. Support levels can be identified by analyzing historical price movements and looking for areas where the price has consistently bounced back from in the past. Traders and investors use support levels as a guide for making buy and sell decisions, and they often place stop-loss orders just below key support levels to limit their downside risk.