Is It Too Late To Buy TROY? TROY Price Skyrockets 78% And This Might Be The Next Crypto To Explode
The TROY price surged 78% in the last 24 hours to trade at $0.00447 as of 03:20 a.m. EST on trading volume that skyrocketed 236% to $220 million.
TROY’s surge followed listings on several exchanges in the past week or so, with the latest being BingX.
TROY Price Aims For A Continued Surge
According to the TROY/USD chart analysis on the 8-hour timeframe, the TROY price has been on a decline since April. However, the $0.001195 support in October allowed the price of TROY to surge, with the recent price movements forming a cup and handle pattern, according to data from GeckoTerminal .
TROY price now trades above both the 50-day and 200-day Simple Moving Averages (SMAs). The 50-day SMA has since crossed above the 200-day SMA, which has formed a golden cross at $0.001804, an indication that the price is still set for a bullish rally.
Moreover, the Relative Strength Index (RSI) has now crossed above the 70-overbought region, a signal that the asset is under intense buying pressure.
The Moving Average Convergence Divergence (MACD) also supports the bullish rally, as the blue MACD line crosses above the orange signal line, representing a bullish crossover.
If the current bullish momentum continues, the price of TROY could soar even higher, as the bulls target the projected 47% surge to $0.00657.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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