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XMR/USDT (Futures) Potential Upward Movement

XMR/USDT (Futures) Long-Term Trend: Bullish

Key Resistance Levels: 173.10, 180.81, 181.00.

Key Support Levels: 164.88, 158.61. 155.19.

Daily Time Frame:

The price on the higher time frame succeeded to break the bearish trendline to the upside after a series of higher highs and lows. the market found support near the 159.00 USDT mark which could lead to a move upward in the coming hours.

XMR/USDT (Futures) Medium-Term Trend: Bullish

1-Hour Time Frame:

On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a double bottom formation. A lower correction could be posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Limit Order @ 165.89

Target Profit 1 @ 173.10

Target Profit 2 @ 180.81

Stop Loss @ 158.65

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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