Monero XMR/USD is trading at the level of 163. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Monero. The test of the lower boundary of Ichimoku Kinko Hyo Cloud near the level 170 is expected, from which one 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 5, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance area. Earlier, a weak signal was received for buy of Monero cryptocurrency, due to the crossing of signal lines at level 165.
Cancellation of the variant of the Monero quotations drop will be a breakdown of the upper boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations above the level of 185, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotations XMR/USD stands with the breakdown of the bottom of the bullish channel and the closing below the level of 160.