Monero XMR/USD is trading at the level of 204. 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 level 210 is expected, from which we should expect a rebound and an attempt to continue the growth of the crypto currency with a target at level 160.
Monero forecast & analysis XMR/USD May 16, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the upper boundary of the channel, as well as a test of the resistance level. Earlier, a weak signal was received for buy of the Monero cryptocurrency, due to the crossing of the 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 235, which indicates the continued growth of quotations of cryptocurrency. Expect to accelerate the fall in quotations XMR/USD is from the support area and closing below the level of 190.