Monero XMR/USD is trading at the level of 260. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend for the Monero. The test area of the Ichimoku Kinko Hyo signal lines near the 270 level is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at level 195.
Monero forecast & analysis XMR/USD on March 12, 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 upper boundary of the bearish 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 area 320, which indicates the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XMR/USD is the breakdown of the lower limit of the model «Triangle» and closing below the level of 225.
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