Monero XMR/USD is trading at 227. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Monero. The test area of Ichimoku Kinko Hyo signal lines near level 215 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 260.
Monero forecast & analysis XMR/USD April 20, 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 strong signal was received for buy of the Monero, due to the crossing of the signal lines at level 195.
Cancellation of the variant of the 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 190, which indicates the change of the bullish trend in favor of a bearish trend. Expect the acceleration of the growth of quotations XMR/USD stands with the breakdown of the resistance area and the closing above the level of 240.
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