Monero XMR/USD completes trading week near area 231. The cryptocurrency is traded below the lower boundary of Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend for Monero. The test area of Ichimoku Kinko Hyo signal lines near level 285 is expected, from which it is expected to rebound and continue the development of growth with a target to falling near the level of 145. An additional signal in favor of the drop of the cryptocurrency will be a resistance level test.
Monero (XMR/USD) weekly forecast February 12 — 16, 2018
Earlier, a weak signal was received for sell of Monero cryptocurrency, due to the crossing of signal lines at level 345. 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 area of 355, which indicates a change in 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 lower boundary of the bearish channel and the closing below the level of 195.