Monero XMR/USD is trading at the level of 190. 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 200 level, from which one should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at level 160.
Monero forecast & analysis XMR/USD May 20, 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 strong signal was received for sell of Monero cryptocurrency, due to the crossing of signal lines at 205 level.
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 220, which indicates the continued growth of quotations of cryptocurrency. Expect the acceleration of the fall in quotations XMR/USD stands with the breakdown of the support area and closing below the level of 180.