Monero XMR/USD is trading at the level of 230. The cryptocurrency is trading below the lower boundary of Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend for Monero. The test of the lower boundary of the bullish «5-0» model near the 220 level is expected, from which one should expect a rebound and an attempt to continue the growth of the crypto currency with a target at the level of 260.
Monero forecast & analysis XMR/USD May 10, 2018
An additional signal in favor of the growth of the crypto currency will be the channel boundary test, as well as the formation of the bullish «Wolfe Wave» model, the target of the model is the area at the level of 290. Earlier, a weak signal was received for sell of the Monero cryptocurrency, by crossing the signal lines at 245 level.
Cancellation of the variant of growth of quotations Monero will be a breakdown of the lower border of the bullish channel with the closing of quotations below the level of 210, which will indicate the continued fall in the quotations of the cryptocurrency. To expect confirmation of the growth of XMR/USD quotes stands with the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the level of 240, which will indicate a change in the bearish trend in favor of the bullish trend.
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