Monero XMR/USD is trading at the level of 161. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend in Monero. The test of the lower boundary of Ichimoku Kinko Hyo Cloud near the level 175 is expected, from which we should expect a rebound and an attempt to continue the fall of the crypto currency with a target at level 120.
Monero forecast & analysis XMR/USD March 31, 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 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 quotations Monero will be a breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotes above the level of 205, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XMR/USD is with the breakdown of the lower boundary of the channel and closing below the level of 145.