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FxWirePro: XMR/USD downside capped by 50- day MA, good to buy on dips

Bitcoin has shown a minor decline after hitting high of $6825. Short term trend is bullish as long as support $5800 holds. It is currently trading around $6516. Any break below 5800 confirms bearish continuation.Major altcoins following foot steps of Bitcoin.

 

XMRUSD has shown a minor decline almost 15% after hitting high of $128.45. It is currently trading around $115.10. The pair has taken support near 50-day MA and shown a minor jump.
 

The near term resistance is around $128.60 and any break above targets $142/ $151.95.

 

On the lower side, near term support is around $107 (50- day MA) and any close below targets $103/$96/$76.

 

It is good to buy on dips around $107-108 with SL around $96 for the TP of $128/142.

 

 

 

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