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FxWirePro: XMRUSD trades below $100 level, dip till $76 likely

Bitcoin is consolidating after a major sell-off. The pair hits low of $6126 and is currently trading around 6260. Any break below 5800 confirms bearish continuation.Major altcoins especially Ethereum is trading extremely weak and has broken major support $200 level.

 

XMRUSD has lost more than 30% from the high of $141.68. The pair declined till $96.67 and is currently trading around $97.26. Any close below 100 will confirm minor weakness.

The near term resistance is around $112 (200- 4H MA) and any break above targets $130/$142/ $151.95.

 

On the lower side, near term support is around $96 and any break below targets $87/$76.

 

It is good to sell on rallies around $105-106 with SL around $1115 for the TP of $76.

 

 

 

 

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