Monero XMR/USD is trading at 344. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates that there is a bullish trend in Monero. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the 330 level, from which one should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at level 395.
Monero forecast & analysis XMR/USD on March 7, 2018
An additional signal in favor of the growth of the cryptocurrency will be a test of the support level. Earlier, a weak signal was received for buy of Monero cryptocurrency, due to the crossing of signal lines at level 265.
Cancellation of the variant of growth of quotations Monero will be a breakdown of the lower boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotations below the area of 300, which indicates the change in the bullish trend in favor of the bearish trend. Expect an acceleration in the growth of quotations XMR/USD stands with the breakdown of the resistance area and closing above the level of 380.
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