Monero XMR/USD is trading at 245. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Monero. Ichimoku Kinko Hyo signal line area test is near the 255 level, from which we expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at level 160. An additional signal in favor of the drop will be a resistance level test, as well as a test of the upper boundary of the bearish channel.
Monero forecast & analysis XMR/USD on February 4, 2018
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 quotes Monero will be a breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotations above the area of 300, which indicates the change of the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotes XMR/USD stands with the breakdown of the lower boundary of the bearish channel and the closing below the level of 145.
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