Monero XMR/USD is trading at 103.39. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a downward trend in Monero. As part of the Monero forecast & analysis XMR/USD October 15, 2018, the Ichimoku Kinko Hyo Cloud is expected to test the lower boundary near the 108.00 level, from where it is necessary to expect a rebound and an attempt to continue the cryptocurrency decline with a target at 92.00.
Monero forecast & analysis XMR/USD October 15, 2018
An additional signal in favor of the fall of the cryptocurrency will be the test of the resistance area, as well as a rebound from the upper boundary of the downward channel. Previously, a strong signal was received for sell of Monero cryptocurrency, due to the crossing of signal lines at the level of 114.00.
Cancellation of the option of falling Monero quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the level of 115.00. This will indicate a change in the downward trend in favor of the upward trend and the continuation of the growth of cryptocurrency quotes. Expect to accelerate the decline in quotes XMR/USD stands with the breakdown of the lower boundary of the downward channel and closing below 100.00.
Monero forecast & analysis XMR/USD October 15, 2018 suggests an attempt to develop cryptocurrency correction and resistance level test near 108.00, where you can expect further decline of Monero with a potential target near 92.00, a strong growth will be canceled and the breakdown of 115.00 that would indicate continued growth.