• FxWirePro: monero (xmr/usd) trade below major trend line support, dip till $62 likely

    Source: FxWire Pro - Digital Currency / 14 Aug 2018 08:53:50   America/New_York

    Major support  $87 (Trend line support)

    Bitcoin has shown a decline below major support $6000 and major altcoins are trading low following footsteps of BTC.

    The pair has lost almost $10 from the low of $87 made on Aug 11th 2018. Short term trend is weak as long as resistance $100 holds.

    XMR declined continuously from the minor top of $151.95 till $76 almost more than $70. The pair is trading slightly below trend line support.

    The near term resistance is around $94 (23.6% fib) and any break above confirms minor bullishness. Any violation above targets $100/$116 .

    On the lower side, near term support is around $76 and any break below targets $70/$62.

    It is good to sell on rallies around $87.50-88 with SL around $94 for the TP of $

     

     

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