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FxWirePro: Monero (XMR/USD) trade below major trend line support, dip till $62 likely

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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