Monero XMR/USD is trading at 393. The 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 Cloud near the level 355 is expected to be tested near the level 355, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at level 485.
Monero forecast & analysis XMR/USD on January 21, 2018
An additional signal in favor of the growth of the cryptocurrency is the formation of the «Head and Shoulders» reversal model. Earlier, a weak force signal was obtained for buy of the Monero cryptocurrency, by crossing the signal lines at level 325.
Cancellation of the variant of growth of quotations Monero will be a breakdown of the lower boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotations below the area of 300, which indicates the change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations XMR/USD stands with a breakdown level of 420.
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