Monero XMR/USD is trading at 264. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Monero. The test area of the Ichimoku Kinko Hyo signal lines near the 280 level is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 205 level.
Monero forecast & analysis XMR/USD on March 10, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance level, as well as a test of the lower boundary of the bullish channel. Earlier, a weak signal was received for sell of Monero cryptocurrency, due to the crossing of signal lines at the level of 350.
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 330, which indicates the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XMR/USD is with the breakdown of the bottom of the bullish channel and closing below the level of 220.
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