FxWirePro: Monero faces strong resistance at 55- day EMA, good to buy on dips

Bitcoin has broken $7000 level after long consolidation and is holding above that level. The pair hits high of $7139 and is currently trading around 7101. Any daily close above 7000 confirms minor bullishness and a jump till 7965 likely. Major altcoins also trading higher in footsteps bitcoin.

The pair has shown a good jump of more than 40% after hitting low of $76. It hits high of $107 and is currently trading around $90.88. The pair has closed above $100 for two consecutive days.

XMR declined continuously from the minor top of $151.95 till $87 almost more than $60. The pair has recovered after showing a minor decline below trend-line.

The near term resistance is around $113.85 and any daily close above confirms minor bullishness. Any violation above targets $118/$131.

On the lower side, near term support is around $90and any break below targets $77/$70.

It is good to buy on dips around $100 with SL around $93 for the TP of $131.