Monero XMR/USD is trading at 108.34. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a downward trend in Monero. As part of the Monero forecast & analysis XMR/USD October 22, 2018, the test of the Ichimoku Kinko Hyo signal lines is expected near the 110.00 level, from which one can expect a rebound and an attempt to continue the cryptocurrency decline with a target at 100.00.
Monero forecast & analysis XMR/USD October 22, 2018
An additional signal in favor of the fall of the cryptocurrency will be the test of the resistance area, as well as the test of the upper limit of the downward channel. Earlier, a weak signal was received for sell of Monero cryptocurrency, due to the crossing of signal lines at 110.00.
Cancellation of the option of falling Monero quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the level of 113.00. This will indicate a change in the downward trend in favor of the upward trend and the continuation of the growth of cryptocurrency quotes. Expect to accelerate the decline in prices XMR/USD stands with the area of support and closure below 104.50.
Monero forecast & analysis XMR/USD October 22, 2018 suggests an attempt to develop a correction of cryptocurrency and a resistance level test near 110.00, from which we can expect the Monero to continue falling with a potential target near 100.00, a strong growth will be canceled and the breakdown of 113.00 that would indicate continued growth.