Monero XMR/USD is trading at 47.43. 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 drop to the level of 45.40, 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 53.70. Earlier, a medium strength signal was obtained for buying of the Monero cryptocurrency, by crossing the signal lines at level 42.43.
Monero forecast & analysis XMR/USD on August 7, 2017
An additional signal in favor of the bullish trend will be a test of the support area. 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 the area of 41.00, which indicates the change of 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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