How can resistance lines be used to predict price movements in cryptocurrencies?

1 answers

• Nov 29, 2021 · 3 years ago
  In the context of cryptocurrencies, resistance lines can be used to predict price movements by identifying levels at which the price has historically struggled to move above. These levels can act as barriers to further price increases and may indicate potential areas of selling pressure. Traders can use resistance lines to set profit targets or to determine when to sell their positions. It's important to note that resistance lines are not guaranteed to accurately predict price movements, but they can be a useful tool in conjunction with other technical analysis indicators.
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