Monero XMR/USD is trading at the level of 316. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Monero. Ichimoku Kinko Hyo signal line area test is near the level 330, from which we expect a rebound and an attempt to drop the cryptocurrency with a target at the level of 260.
Monero forecast & analysis XMR/USD on January 2, 2018
Earlier, we received a signal of medium strength for sell of Monero cryptocurrency, by crossing the signal lines at 340 level. 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 360, 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 275.