Monero has broken into the top 10 cryptocurrencies after a long time, hence we have included it in our analysis.
The XMR/USD pair declined to $87.023 on August 11, from where the bulls are trying to pull back.
On the upside, the 20-day EMA will act as a stiff resistance, above which the upward move can extend to the downtrend line, closer to $130.
On the downside, if the $87.023 level breaks, the fall can extend to the $78 — $82 support zone.
Currently, the virtual currency is in a downtrend. Hence, we are not proposing a trade on it.