Monero XMR/USD is trading at the level of 267. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Monero. Ichimoku Kinko Hyo signal line area test near level 285 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 220.
Monero forecast & analysis XMR/USD on February 1, 2018
An additional signal in favor of the drop will be a resistance level test. Earlier, a strong signal was received for sell of the Monero cryptocurrency, due to the crossing of signal lines at level 305. Cancellation of the option of falling quotations Monero will be a breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotes above the area of 345, which indicates the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XMR/USD is worth a breakdown of the level of 255.
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