Monero XMR/USD is trading at the level of 242. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend for Monero. The test area of Ichimoku Kinko Hyo signal lines near level 265 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at level 180.
Monero forecast & analysis XMR/USD on March 14, 2018
An additional signal in favor of the fall of the cryptocurrency will come from the upper bound of the «Triangle» model. Earlier, a strong signal was received for sell of Monero cryptocurrency, due to the crossing of signal lines at the level of 260.
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 quotations above area 310, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotes XMR/USD stands with the breakdown of the lower limit of the model «Triangle» and closing below the level of 230.