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FxWirePro: XMRUSD trades lower, break below $106 confirms further bearishness

Bitcoin has lost more than 1000 points from yesterday high and it hits low of $6300 and is currently trading around 6381. Any break below 5800 confirms bearish continuation.Major altcoins also shown a huge sell-off following footsteps of Bitcoin.

 

XMRUSD has lost more than 20% from the high of $141.68. The pair declined till $107.97 and is currently trading around $110. Any break below 106 will confirm minor weakness.

The near term resistance is around $130 and any break above targets 142/ 151.95/180 (200- day MA).

 

On the lower side, near term support is around $106 (20- day MA) and any break below targets $100/$87/$76.

 

It is good to sell on rallies around $120-23 with SL around $130 for the TP of $76.

 

 

 

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