Monero XMR/USD is trading at the level of 303. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bullish trend for Monero. Ichimoku Kinko Hyo signal line area test near the level 290 is expected, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at the level of 370.
Monero forecast & analysis XMR/USD on December 16, 2017
An additional signal in favor of the growth of the cryptocurrency will be a test of the support level. Earlier, a medium strength signal was received for buy of the Monero cryptocurrency, due to the crossing of the signal lines at the level of 240. The abolition of the variant of the growth of the Monero quotations will be the breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the area of 250, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations XMR/USD is with a breakdown level of 330.
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