Blockchain Revolution Series: India’s Leading IT Giant TCS Launches Quartz Smart Solution For Cryptocurrency Trading
Digital Currency Revolution Series: Travala.com Partners With Expedia Group For Cryptocurrency-Based Travel Booking
Cryptocurrency Derivatives Series: Brazil’s SEC CVM Orders Cryptocurrency-Exchange Binance To Stop Futures Trading
Regulatory Series on Series: US Senate Foresees Budding Technology & Digital Dollar To Play Crucial Role In Economic Competition
FxWirePro: AUD/NZD hovers near major trendline resistance at 1.0830, breakout to propel the pair higher
Regulatory Series on Cryptocurrencies: FCA Issues UK’s Crypto-Businesses Cutoff Date For Obtaining Licence
Regulatory Series on Cryptocurrencies: US SEC Hammers Lobbyist CEO of AML Bitcoin With Fraudulent ICO Project
Crypto Technicals: Altcoins crumble tracking losses in Bitcoin, Monero tests 50-DMA (91.24), further weakness likely
XMR/USD chart - Trading View
Exchange - Binance
Support: 87.4592 (cloud top); Resistance: 108.53 (5-DMA)
Technical Analysis: Bias Bearish
Altcoin space crumbles as they track losses in the Kingcoin.
Monero extends weakness for the 3rd straight session, tests 50-DMA at 91.24.
Cloud is offering strong support and break below will see further weakness.
Technical indicators are bearish. Stochs and RSI have rolled over from overbought levels.
5-DMA has turned, MACD shows bearish crossover on signal line and volatility is rising on the intraday charts.
Price action has broken below 4H 200-SMA and break below cloud top will see further weakness.
Next major support lies at 110-EMA at 80.77 ahead of lower Bollinger Band at 77.59.
5-DMA caps upside at 108.14. Break above negates near-term bearishness.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.