Monero weekly forecast on October 23 — 27, 2017


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Monero XMR/USD completes the trading week near area 83. Cryptocurrency is trading below the lower Ichimoku Kinko Hyo Cloud, which indicates the presence of a downward trend for Monero. Ichimoku Kinko Hyo indicator cloud is expected near the level of 93, from which one should expect a rebound and a continuation of the development of the bearish trend with a target to falling near the level of 55.

Monero weekly forecast on October 23 — 27, 2017

Monero weekly forecast on October 23 — 27, 2017

Earlier, a signal of average strength was obtained for sell of the Monero cryptocurrency, by crossing the signal lines at level 93. Canceling the variant of falling quotes Monero will be a breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotations above the area of ​​110, which indicates the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XMR/USD is with the breakdown of the lower boundary of the model «Triangle» and closing below 79.

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