$TROY has recently experienced a significant decline of 60%, leaving many investors puzzled. To fully understand the market movements, let's take a closer look at the weekly chart. The 0.0056 mark has been a crucial support zone for nearly a year, from 2021 to 2022. However, now that this level has been breached, it has turned into a strong resistance point. After consolidating for 749 days, $TROY managed to break out and reach a new price range between 3598 and 5643.
Interestingly, every time the price hits the 3598 level, it rebounds, making this area a key zone to watch. This consistent support at 3598 should not be underestimated, as it has been tested multiple times. With the consolidation period behind us, the likelihood of a significant breakdown from this level seems low.
For those considering an entry, buying at 3598 could be a bold yet rewarding move. Set a stop loss just below the previous low, which is a manageable risk of around 10%. Given the history of this support level and the long consolidation phase, it’s likely to offer strong support once again, providing a good opportunity for those willing to take the ri
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