Technical Analysis and Trading Strategy for TROY #TROY

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Technical Analysis

- Support: Closest support at $0.0037, where the price recently rebounded.

- Resistance: Current resistance at $0.0081, marking the intraday high.

- RSI Indicator: Approaching the oversold zone, indicating increasing selling pressure.

- Moving Averages (MA): The price is below both the 50-day and 200-day MAs, confirming a bearish trend.

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Trading Strategies

1. Long Position: $TROY

- Entry: Buy at $0.0037 support rebound with increased volume.

- Take Profit: Target 1 at $0.0050; Target 2 at $0.0065.

- Stop Loss: Below $0.0035 or 1:2 risk/reward ratio.

2. Short Position: $TROY

- Entry: Sell near $0.0081 if reversal signals appear.

- Take Profit: Target at $0.0037 support.

- Stop Loss: Above $0.0085 or 1:2 risk/reward ratio. $TROY