Monero XMR/USD is trading at 212. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Monero. The test area of Ichimoku Kinko Hyo signal lines near level 240 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at level 165.
Monero forecast & analysis XMR/USD on March 16, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the upper boundary of the channel, as well as a test of the resistance level. 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 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 285, which indicates the change of 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 boundary of the bearish channel and closing below the level of 165.
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