TRX/USD - $0.081

TRX had been ranging around the support zone of $0.029 to $0.032 and consolidating. As soon as it broke above the $0.032 area and moved above the trendline support zone, it started an impulsive move towards the previous high of $0.049 (Sept. 2020). This also coincides perfectly with the 1.618 fib. There is a very high probability of TRX getting rejected from this 1.618 fib. TRX will make an attempt to reach the 1.618 fib at $0.049. After rejection, it could drop down towards fib 1 and fib 0.786 at $0.041 and $0.038 respectively. Once it comes back to this support zone, it could attempt to target the higher fibs at $0.061, $0.074 and $0.081 respectively. Another possibility could be that TRX breaks the resistance at $0.049 and makes a higher move, comes back to $0.049 and test it for support, confirms an R/S flip and heads towards $0.061, $0.074 and $0.081. In either case, $0.049 area is the key section to watch.