Monero XMR/USD is trading at the level of 302. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Monero. Ichimoku Kinko Hyo Cloud is expected to test near the 320 level, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at level 245.
Monero forecast & analysis XMR/USD on March 9, 2018
An additional signal in favor of the fall of the cryptocurrency will be a resistance level test. Earlier, a weak signal was received for sell of Monero cryptocurrency, due to the crossing of signal lines at the level of 350.
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 quotations above the area of 340, which indicates the change of the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotations XMR/USD stands with the breakdown of the bottom of the bullish channel and the closing below the level of 275.
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