Monero XMR/USD is trading at the level of 230. The cryptocurrency is traded below the lower boundary of Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend for Monero. Ichimoku Kinko Hyo Cloud near the level 235 is expected to be tested near the level of 235, from which one should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 140. 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 9, 2018
Earlier, a strong signal was received for buy of the Monero cryptocurrency, due to the crossing of the signal lines at level 195. 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 265, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes XMR/USD is worth a breakdown of the support area and closing below the level of 160.
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