Monero XMR/USD is trading at the level of 185. 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 195 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 29, 2018
An additional signal in favor of the fall of the cryptocurrency will be a resistance level test. Earlier, a signal of medium strength signal was received for sell of the Monero cryptocurrency, due to the crossing of signal lines at level 210.
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 level of 215, which indicates the change of 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 165.