$TRX /USDT

Spot and resistance are key concepts in technical analysis for traders. Spot price refers to the current price at which an asset, like a stock, commodity, or currency, can be bought or sold for immediate delivery. It's essentially the price that the market is willing to pay at the present moment. Traders use the spot price as a benchmark to evaluate the potential of an asset for short-term trades.

Resistance, on the other hand, is a level where the price of an asset tends to face selling pressure as it climbs, making it difficult for the asset to continue rising. When an asset's price approaches a resistance level, many sellers emerge, looking to lock in profits or prevent losses. This results in a stall or a reversal of the upward price movement.

Identifying resistance levels helps traders make informed decisions about when to sell or reduce their positions. If the price breaks through resistance, it may signal a continued upward trend. By combining spot price analysis with resistance identification, traders can better understand market dynamics and make decisions about entry and exit points. Effective use of these concepts is vital in maximizing returns and minimizing risk in trading.

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