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FxWirePro: Monero (XMR/USD) forms hammer in Daily chart, jump till $112 likely



Thursday, August 16, 2018 1:01 PM UTC

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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