The recent long liquidation at $0.00587 suggests a significant drop in price, which might indicate a potential support zone or a continuation of bearish momentum. Below is a detailed analysis of what could happen next, along with buy zones, target levels, and Stop loss suggestions.

Current Situation.

Price Action.

The long liquidation at $0.00587 highlights selling pressure. This may signal either a breakdown or the exhaustion of sellers, depending on upcoming market behavior.

Volume.

Increased selling volume during liquidations often points to a possible bottoming process.

Trend.

Currently, TROY appears to be in a downtrend. Confirmation of reversal is required before entering long positions.

Trading Plan for TROY.

Here’s a structured trading approach based on the current price dynamics.

1. Buy Zone.

Primary Buy Zone.

$0.00550 - $0.00570

A zone near the recent liquidation where buyers might accumulate.

Secondary Buy Zone.

$0.00510 - $0.00530

Deeper support zone in case the price dips further.

2. Targets.

Target 1: $0.00610

Short term bounce target based on recent resistance levels.

Target 2: $0.00650

Mid-term target if bullish momentum builds up.

Target 3: $0.00700

A longer-term target if there’s a breakout above key resistance.

3. Stop Loss.

Place a Stop Loss at $0.00520

Below the secondary buy zone to minimize risk if the trend remains bearish.

What to Watch Next.

1. Price Behavior Around $0.00550.

If the price holds above this level with increasing buying volume, it might confirm a reversal.

2. Resistance Levels at $0.00610 and $0.00650.

Watch for rejection or breakout at these levels to decide whether to hold or exit positions.

3. Market Sentiment.

Track overall market sentiment BTC movements since altcoins like TROY are heavily influenced by broader trends.

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