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.