Monero XMR/USD is trading at level 157. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Monero. The test area of the Ichimoku Kinko Hyo signal lines near the level 165 is expected, from which one should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at level 120.
Monero forecast & analysis XMR/USD April 2, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance level, as well as a test of the upper boundary of the bearish channel. Earlier, a signal of medium strength signal was received for sell of the Monero cryptocurrency, due to the crossing of signal lines at level 210.
Cancellation of the variant 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 190, which indicates the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XMR/USD is with the breakdown of the lower boundary of the channel and closing below the level of 145.