Market Overview
• Current price (as of December 19, 2024): $0.006033
• 24h High: $0.006059
• 24 hour low: $0.005001
• 24-hour change: +10.15%
• 24-hour volume (TROY): 6,773,574,105.00 TROY
• 24-hour volume (USDT): 37,596,011.68 USDT
Support and resistance levels
• Key Support Levels (30m Time Frame):
1. $0.005001: The recent 24-hour low represents a strong support level, where the price found a floor and bounced.
2. $0.0053: A minor support level above the recent low, acting as a cushion for price declines.
• Key resistance levels (30m time frame):
1. $0.006059: The 24-hour high forms an immediate resistance point for the price. If it breaks above this, further upside is possible.
2. $0.0060: Just below the 24-hour high, this level is psychologically important and could be tested for a breakout.
30-minute (30m) chart analysis:
On the 30-minute chart, the TROY price shows recent bullishness:
• Price Action: TROY is currently trading at $0.006033, slightly above the previous support zone. After bouncing off $0.0050, the price has been gradually moving up, consolidating between the $0.0050 and $0.0060 range.
• Support Zone: The $0.0050 zone has acted as a strong support and could continue to provide support if the price bounces back. The $0.0053 level could also act as secondary support.
Resistance Zone: The $0.0060 level is likely to act as an immediate resistance. If the price can break above it, it will test the $0.006059 resistance from the 24-hour high. If the price manages to break through, an upward continuation is likely.
• RSI (Relative Strength Index): The RSI on the 30-minute chart is showing strong momentum, but it may be approaching overbought conditions, suggesting that the price could pull back slightly before making another attempt to break resistance.
Trade Setups and Market Outlook
1. Bearish scenario: If the price fails to hold the $0.0053 support and drops below $0.0050, the next downside target could be around $0.0048.
2. Bullish scenario: If TROY manages to break the $0.0060 resistance and holds above it, we could see a continuation towards $0.0065 or higher.
3. Range Bound: If TROY stays between $0.0050 and $0.0060, expect continued consolidation within this range until a breakout occurs.
