$TROY is currently forming an ascending triangle pattern on the daily chart. This pattern indicates that the price is consolidating and pushing towards a breakout above the resistance level.
Key Observations:
The price has been consistently testing the resistance level, and each time it pulls back, it forms higher lows, which is typical of an ascending triangle.
This suggests that there is strong buying pressure building up, and the breakout might be imminent.
Buy Zone:
The ideal buy zone is when the price breaks above the resistance level, ideally around $0.00675 to $0.00700. If you see a clear breakout with good volume, this could be a great opportunity to enter.
Targets (Price Predictions):
Target 1: $0.00855
Target 2: $0.01150
These targets are based on the expected price movement after the breakout.
Stop Loss:
To protect your investment, set a stop loss below the most recent low of the consolidation zone, around $0.00600. This will limit your risk in case the breakout fails.
What to Watch For:
A clear breakout above the resistance line is essential. Look for strong volume to confirm the move.
If the price fails to break above the resistance and starts to fall, it could indicate that the pattern is invalidating, so be cautious.
Summary:
Buy Zone: $0.00675 - $0.00700 (on breakout)
Target 1: $0.00855
Target 2: $0.01150
Stop Loss: $0.00600 (below consolidation zone)
Watch the price action carefully for the breakout confirmation! Keep an eye on volume and don't rush into the trade.
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