$TROY

$TROY/USDT 4-Hour Chart Analysis📈📈

The recent price action on the $TROY/USDT chart has been severely bearish, with a 47.40% drop in 24 hours. The price plummeted from $0.008200 to $0.003492, with the current price at $0.004142. This drastic decline indicates extreme bearish sentiment.

The support zone is currently around $0.0035, which is the recent low. The resistance zone is at $0.0063, which was the previous consolidation zone. If the price drops below $0.0035, the next support could be around $0.0022, which is the historical low.

The 24-hour volume has been significant, with 46.69B TROY and 230.53M USDT traded. This high volume during the drop signals panic selling among traders.

The indicators are confirming the bearish momentum. The price is far below the Moving Average, and the Bollinger Bands indicate oversold conditions. The RSI is likely in oversold territory, suggesting a potential relief bounce.

The market sentiment is bearish, with the sharp sell-off indicating fear among traders. Recovery will depend on buying interest and stabilization at support levels.

There are two possible scenarios: a bullish bounce back to the $0.0063 resistance zone, or a bearish breakdown below $0.0035, expecting further downside to $0.0022.

For bulls, it is recommended to wait for confirmation of a bounce above $0.005. For bears, look for short opportunities below $0.0035.

#Binance250Million #TROY #TROY/USDT #USStateBuysBTC #XRPBackInTop3