Monero XMR/USD is trading at the level of 169. 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 is near the 200 level, from which we expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at level 100. 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 7, 2018
Earlier, a strong signal was received for sell of Monero cryptocurrency, due to the crossing of signal lines at level 225. 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 260, 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 the breakdown of the support area and closing below the level of 130.
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