May seem unlikely but XMRUSD could reach 342 zone next week

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

Yorum:

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