Monero XMR/USD is trading at 48.58. Cryptocurrency continues to trade above the upper boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of an bullish trend for Monero. Ichimoku Kinko Hyo indicator area signal lines are expected near the level of 45, from which one should expect an attempt of growth and further development of the bullish trend with the target of growth near level 54.
Monero XMR/USD prediction & analysis on August 6, 2017
An additional signal in favor of the growth of the cryptocurrency quotations will be the test of the support area. Earlier, a medium strength signal was obtained for buying of the Monero cryptocurrency, by crossing the signal lines at level 42.43. 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 the area of 39.50, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations for XMR/USD is the breakdown of the local maximum area at the level of 50.
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