Monero XMR/USD completes trading week near area 262. The cryptocurrency is trading below the lower boundary of Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend for Monero. The Ichimoku Kinko Hyo Cloud lower limit test is expected near the level of 290, from which it is expected to rebound and continue the development of the downward trend with a target near the level of 175.
Monero (XMR/USD) forecast February 26 — March 2, 2018
An additional signal in favor of the drop of the cryptocurrency will be the channel test, and the resistance level test. Earlier, a weak signal was received for buy of Monero cryptocurrency, due to the crossing of signal lines at level 245.
Cancellation of the option of falling quotations Monero will be a breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotes above the area of 325, 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 support area and closing below the level of 220.
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