Monero XMR/USD is trading at the level of 161. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of 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 8, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the lower boundary of the channel. Earlier, a strong signal was received for sell of Monero cryptocurrency, 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 worth a breakdown of the support area and closing below the level of 150.