Monero XMR/USD is trading at the level of 49.75. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of an bullish trend for Monero. The price of XMR/USD is expected to fall to the upper boundary of the Ichimoku Kinko Hyo Cloud near the level of 46.50, from which one should expect an attempt of growth and further development of the bullish trend with the target of growth near the level of 55.
Monero forecast & analysis XMR/USD on August 10, 2017
An additional signal in favor of the bullish trend will be the test of the support area. Earlier, a medium strength signal was received for buying of the Monero cryptocurrency, by crossing the signal lines at the level of 42.45. Cancellation of the variant of growth of quotations Monero will be a breakdown of the lower boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotations below area 42, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations for XMR/USD is with the breakdown of the local maximum area at 52.00.
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