Seeing as price has interacted with these marked areas many times in the past, Traders can use these areas in which to setup buy or sell orders depending on what they believe will happen. In the following chart we can see that price has had many interactions with the areas marked in yellow, specifically at points marked by green arrows. Predicting the price of POLY can also be useful for determining sell targets if you’re already holding POLY and wondering where to sell for the highest profit. Horizontal support levels can be identified by counting the amount of times a a price tests and bounces from a particular price on the way down. Horizontal resistance levels can be identified by counting the amount of times a price is tested and rejected on an attempt upwards. Identifying levels of support and resistance are often all it takes to start creating a POLY price prediction, at least in the short to mid-term.
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