Monero XMR/USD is trading at the level of 86. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Monero. The Ichimoku Kinko Hyo cloud is expected to test near the level of 88, from which it is expected to rebound and continue falling of the cryptocurrency with a target at level 77.
Monero forecast & analysis XMR/USD on November 5, 2017
An additional signal in favor of the fall of the cryptocurrency will be the test of the upper boundary of the bearish channel. Earlier, a weak signal was received for buy of Monero cryptocurrency due to the crossing of signal lines at level 85. The cancellation of the variant of the Monero quotations drop will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 90, indicating a bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes XMR/USD is at breakdown level 83.
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