BLiZT
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VIP MARKET UPDATE: $XMR
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$XMR is trading around 413.33 inside a well-defined ascending channel that has been guiding price higher since early April. The 8-hour chart shows price consistently bouncing between the channel boundaries, with the recent pullback from the 435.00 area bringing price back toward the lower channel support around 400.00, which is now being tested as a key level.
As long as the lower channel support around 400.00 holds on closes, the bullish structure remains intact with targets back toward the upper boundary at 430.00 to 440.00. A break below 400.00 however would signal weakness and put the 390.00 zone at risk. The clean channel structure continues to favor the bulls as long as the lower boundary holds.
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- BLiZT
$XMR
➖➖➖➖➖➖➖
$XMR is trading around 413.33 inside a well-defined ascending channel that has been guiding price higher since early April. The 8-hour chart shows price consistently bouncing between the channel boundaries, with the recent pullback from the 435.00 area bringing price back toward the lower channel support around 400.00, which is now being tested as a key level.
As long as the lower channel support around 400.00 holds on closes, the bullish structure remains intact with targets back toward the upper boundary at 430.00 to 440.00. A break below 400.00 however would signal weakness and put the 390.00 zone at risk. The clean channel structure continues to favor the bulls as long as the lower boundary holds.
➖➖➖➖➖➖➖
- BLiZT
$XMR
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