Time New Bank - Nearly 300% Growth Potential
Since 6th of May, Time New Bank has corrected down by 55%, while it moved from $0.075, down to $0.033. Price has found the support at 78.6% Fibs and recently rejected it cleanly.
But at the same time TNB/USD failed to break above the descending channel, which could mean that the bullish momentum is still dominating. But if price stays above $0.033 and will then break above the upper trendline of the descending channel, the downtrend could be invalidated.
Break and close above the $0.041 should result in more buying coming to pick up TNB, that would push price higher. TNB could then jump as high as $0.145 area, that is a 300% growth potential. The resistance is based on 38.2% Fibonacci retracement level applied through the all-time high and it confirmed by the previous resistance established back in January.
But at the same time TNB/USD failed to break above the descending channel, which could mean that the bullish momentum is still dominating. But if price stays above $0.033 and will then break above the upper trendline of the descending channel, the downtrend could be invalidated.
Break and close above the $0.041 should result in more buying coming to pick up TNB, that would push price higher. TNB could then jump as high as $0.145 area, that is a 300% growth potential. The resistance is based on 38.2% Fibonacci retracement level applied through the all-time high and it confirmed by the previous resistance established back in January.
📱 Telegram: t.me/Tradexcel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.