FxWirePro: Monero (XMR/USD) consolidates in narrow range,break above $110 confirms further bullishness

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FxWirePro: Monero (XMR/USD) consolidates in narrow range,break above $110 confirms further bullishness

Wednesday, August 22, 2018 1:31 PM UTC

Bitcoin has jumped more than 6% from day’s low of $6438. The pair hits high of 6899 and shown a minor decline from that level. It is facing strong resistance around $6900 (55- day EMA) and any break above confirms further bullishness. Major altcoins also trading in narrow range following footsteps of BTC.

The pair has shown a good jump of more than 40% after hitting low of $76. It hits high of $107 and is currently trading around $95. The pair has jumped twice slightly above $100 and declined slightly.

XMR declined continuously from the minor top of $151.95 till $87 almost more than $60. The pair has recovered after showing a minor decline below trendline.

The near term resistance is around $100 (20- day MA) and any daily close above confirms minor bullishness. Any violation above targets $110/$118/$131.

On the lower side, near term support is around $90and any break below targets $77/$70.

It is good to buy above 100 with SL around $90 for the TP of $118/$130.

 

 

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