Monero XMR/USD is trading at 221. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Monero. The Ichimoku Kinko Hyo signal line area test is expected near the level 240, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at level 130. 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 5, 2018
Earlier, a weak signal was received for buy of Monero cryptocurrency, due to the crossing of signal lines at 225 level. 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 quotes above the area of 290, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XMR/USD is with a breakdown of the level of support and closing below the level of 200.
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