Monero XMR/USD is trading at the level of 205. 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 of the lower boundary of Ichimoku Kinko Hyo Cloud near the level of 220 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at level 140.
Monero forecast & analysis XMR/USD on March 21, 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 weak signal was received for buy of Monero cryptocurrency, due to the crossing of signal lines at level 185.
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 the area of 250, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes XMR/USD is with the breakdown of the support area and closing below the level of 170.
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