Monero XMR/USD is trading at level 117. Cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Monero. The test of the lower boundary of the Indicator Cloud is expected near the level of 120, from which one should expect a rebound and a fall with a target near the level of 90. An additional signal in favor of the fall of the cryptocurrency is the resistance area test.
Monero forecast & analysis XMR/USD on September 8, 2017
Earlier, a weak signal was received for buying of Monero cryptocurrency due to the crossing of signal lines at level 111. Cancellation of the variant of the Monero quotations drop will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above area 130, which will indicate a bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotations XMR/USD and the continuation of the bearish trend is with the breakdown of the support level and with the closure below 85.
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