What is Resistance Level in Crypto Trading?

A resistance level in crypto trading is a price point at which the demand for an asset is thought to be strong enough to prevent the price from rising above it. Traders can use this level as a potential target for selling their assets. For example, suppose the current price of Bitcoin is $30,000, and a trader believes that the resistance level for Bitcoin is around $40,000. The trader may sell their Bitcoin when the price reaches $40,000, assuming it…