• FxWirePro: monero (xmr/usd) forms hammer in daily chart, jump till $112 likely

    Source: FxWire Pro - Digital Currency / 16 Aug 2018 09:17:01   America/New_York

    Candlestick pattern- Hammer

    Bitcoin has shown a minor recovery of more than 12% from the low of $5858. The altcoins has showed a minor jump following footsteps of BTC.

    The pair has shown a good jump of more than 20% after hitting low of $76. It hits high of $94.50 and is currently trading around $90.71.

    XMR declined continuously from the minor top of $151.95 till $87 almost more than $60. The pair took support near major trend line and showed a minor jump from that level.

    The near term resistance is around $95 (23.6% fib) and any break above confirms minor bullishness. Any violation above targets $103/$111.35.

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

    It is good to buy on dips around $87 with SL around $76 for the TP of $112/$122.

     

     

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