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.© FxWire Pro 2019. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.