Monero XMR/USD is trading at the level of 161. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend in Monero. The test of the lower boundary of Ichimoku Kinko Hyo Cloud near the level 165 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at level 135.
Monero forecast & analysis XMR/USD April 12, 2018
An additional signal in favor of the fall of the cryptocurrency will come from the upper bound of the «Triangle» model. Earlier, a strong signal was received for sell of Monero cryptocurrency, due to the crossing of signal lines at level 165.
Cancellation of the option of falling quotations Monero will be a breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotes above the level of 175, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XMR/USD is the breakdown of the lower limit of the model «Triangle» and closing below the level of 150.