Monero XMR/USD completes trading week near area 170. The cryptocurrency is traded below the lower Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend for Monero. Ichimoku Kinko Hyo signal line area test is expected near the 220 level, from which it is expected to rebound and continue the development of a bearish trend with a target near level 80.
Monero (XMR/USD) forecast April 2 — 6, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance level, as well as a test of the upper boundary of the bearish channel. Earlier, a weak signal was received for sell of Monero cryptocurrency, due to the crossing of signal lines at level 295.
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 quotations above the area of 260, which indicates the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes XMR/USD is with the breakdown of the lower limit of the model «Triangle» and the closure below the level of 140.