$TROY /USD Holds Key Support: Is a Bounce Back Imminent?
$TROY /USD is currently trading at $0.00554 on the 15-minute chart, showing signs of consolidation after testing a low of $0.00533. The price is approaching a potential recovery zone, with support firmly placed at $0.00550 and resistance at $0.00560. Traders can consider a long entry at the current price of $0.00554, aiming for modest targets: TP1 at $0.00557, TP2 at $0.00560, and TP3 at $0.00563. To manage downside risk, a stop-loss (SL) is suggested at $0.00550.
The RSI indicates slight oversold conditions, hinting at a potential reversal, while the MACD is leveling out, signaling reduced selling pressure. Keep an eye on the price action near the resistance zone, as a breakout could indicate further upward momentum. This setup provides an opportunity for quick scalping gains with controlled risk.