According to technical analysis, which of the following statements most accurately describes a support level?
1) A support level is a price level at which a security tends to stop falling and start rising.
2) A support level is a price level at which a security tends to stop rising and start falling.
3) A support level is a price level at which a security tends to consolidate and trade sideways.
4) A support level is a price level at which a security tends to experience high volatility.