Global premium cryptocurrency brokerage Troy Trade recently made a major announcement, with its token $TROY briefly surging over 40%. As TROY_DAO tweeted: “Time for a big announcement! $TROY will soon support the#Bitcoin#BRC20 ecosystem.” The news sent the price surging from $0.0024 to $0.0035 within hours.
Although TROY pulled back slightly to close at $0.0027 on the 4-hour candle, trader Emma believes the stock remains in a “pretty good buy position” for further gains. Troy technical analysis shows that $0.0026 represents a key resistance level dating back to November. Now that TROY has broken out of this level, we will be looking for it to retest its expected support. Analyst Emma also believes that the market still has room to continue to be bullish.
Price action signals are building momentum
The initial Bitcoin integration news sent Trojan Community's stock price soaring by more than 40%, showing how excited the Trojan Community is about the potential scaling utility. The successful move above multi-week resistance at $0.0026 is a key technical development. As Emma points out, a flip of this level to support signals additional upside.
More bullish news may be coming
In addition to the price action, Emma also mentioned that "there will be more bullish news to come." This prediction seems reasonable given Trojan's ambitious roadmap. The project aims to become the world's top brokerage company, providing a full range of high-quality services from spot and derivatives trading to staking, lending, etc.
So with users cheering Bitcoin consolidation, charts breaking resistance, and plenty of announcements still to come, Troy does appear to be in a strong position. If major utility like Bitcoin/TROY cross-chain functionality is on the horizon, a 40% surge could be just the beginning.
