FxWirePro: monero (xmr/usd) struggles to close above 20- day ma, good to sell on rallies
Source: FxWire Pro - Digital Currency / 21 Aug 2018 09:33:33 America/New_York
Bitcoin is consolidating in narrow range between 6230 and 6647 for past one week. Any break above 6650 confirms minor jump till 7000 level. 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 $109.20 and is currently trading around $94.50.
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 $102 (20- day MA) and any break above confirms minor bullishness. Any violation above targets $112/$120/$131.
On the lower side, near term support is around $90and any break below targets $77/$70.
It is good to sell on rallies around $101-$102 with SL around $112 for the TP of $76.© FxWire Pro 2018. 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.