Monero XMR/USD is trading at 199 level. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates that there is a bullish trend in Monero. Ichimoku Kinko Hyo signal line area test is expected near the level 190, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at level 215.
Monero forecast & analysis XMR/USD April 16, 2018
An additional signal in favor of the growth of the cryptocurrency will be a test of the support level, as well as a test of the lower border of the channel. Earlier, a medium strength signal was obtained for buy of the Monero cryptocurrency, by crossing the signal lines at level 165.
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 level of 175, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations XMR/USD is with the breakdown of the resistance area and the closing above the level of 205.
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