Monero XMR/USD is trading at 221. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Monero. The test area of the Ichimoku Kinko Hyo signal lines near the level of 230 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at level 200.
Monero forecast & analysis XMR/USD May 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 buy of Monero cryptocurrency, due to the crossing of signal lines at level 245.
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 245, 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 rising channel and closing below the level of 210.
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