Monero XMR/USD is trading at the level of 241. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in Monero. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 240, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at level 310.
Monero forecast & analysis XMR/USD on December 12, 2017
An additional signal in favor of the growth of the cryptocurrency is the formation of the «Head and Shoulders» reversal model. Earlier, a weak signal was received for sell of Monero cryptocurrency, due to the crossing of signal lines at level 245. Cancellation of the variant of growth of quotations Monero will become a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below area 210, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations XMR/USD stands with a breakdown of the level of 270.
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