Monero XMR/USD completes trading week near area 272. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend for Monero. Ichimoku Kinko Hyo Cloud is expected to test near the 250 level, from which it is expected to rebound and continue the development of a bullish trend with a target near the 350 level.
Monero (XMR/USD) weekly forecast on March 12 — 16, 2018
An additional signal in favor of the growth of the cryptocurrency will be a test of the support level. Earlier, a weak signal was received for buy of Monero cryptocurrency, due to the crossing of signal lines at level 245.
Cancellation of the variant of growth of quotations Monero will be a breakdown of the lower boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotations below area 215, which will indicate a change in the flat trend in favor of a bearish trend. Expect to accelerate the growth of quotations XMR/USD stands with the breakdown of the upper bound of the Cloud of the indicator and the closing above the level of 305, which will indicate the resumption of the bullish trend for Monero.