XMRUSD broke two important technical resistance levels: diagonal resistance line and 200 DMA. Now is consolidating under the HTF resistance of 288.Considering the general crypto bullish trend and that also $BINANCE:XMRBTC has fallen to the HTF support of 0.0502 (where we should see a bounce) it is likely that the trend in
XMRUSD should resume sharply.Since the bar pattern is in absolute terms the projection may even be conservative. On log scale it reaches 400 USD
Going long around 276 seems a good RRR.
SL in the 255 zone at 99 DMA
Note
XMRBTC support broken.. might still be a fake out.. however the dominance of BTC is trending upwards - if BTC king then this is an inferior trade - loosing bTC while holding XMR
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.