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 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 7, 2018
An additional signal in favor of the fall of the cryptocurrency will be the test of the upper boundary of the bearish channel. Earlier, a strong signal was received for sell of Monero, due to the crossing of signal lines at the level of 170.
Cancellation of the option of falling quotes Monero will be a breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotes above the level of 180, which indicates a change in 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 150.
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