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 $© 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.