Monero XMR/USD is trading at 249. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Monero. The test area of Ichimoku Kinko Hyo signal lines near the level of 255 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at level 210.
Monero forecast & analysis XMR/USD May 5, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance level, as well as a test of the upper boundary of the bearish channel. Earlier, a weak signal was received for buy of Monero, due to the crossing of signal lines at level 245.
Cancellation of the variant of the Monero quotations drop will be a breakdown of the upper boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes above the level of 270, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes XMR/USD is with the breakdown of the support area and closing below the level of 235.
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