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XMR/USDT (Futures) Potential Upward Movement

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

Key Resistance Levels: 294.07, 295.00, 295.50.

Key Support Levels: 267.07, 266.50, 266.00.

Daily Chart:

The price on the higher time frame found buyers around the area of confluence made of the 61.80% Fibonacci retracement level and the bespoke support around the 266.77 USDT mark. This indicates that the pullback ended and most probably a new impulsive wave to the upside could be seen.

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

4-Hour Chart:

On the lower time frame, the pair broke the bearish channel that represents the bullish flag on the higher time frame. A series of higher highs and lows are posted showing that we are in the beginning of a new impulsive wave to the upside.

Signal Idea:

Buy Limit Order @ 268.84

TP 1 @ 294.07

TP 2 @ 295.00

Stop Loss @ 256.21

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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