Monero XMR/USD is trading at 105.3. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend in Monero. As part of the Monero forecast & analysis XMR/USD October 29, 2018, the test of the Ichimoku Kinko Hyo signal lines is expected near the level of 107.00, from where it is necessary to expect a rebound and an attempt to continue the cryptocurrency decline with the goal at 100.00.
Monero forecast & analysis XMR/USD October 29, 2018
An additional signal in favor of reducing the cryptocurrency will be the test of the resistance area, as well as the test of the lower boundary of the «Triangle» model. Earlier, a medium strength signal was received for SELL the Monero cryptocurrency, due to the crossing of signal lines at 109.00.
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 110.50. 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 confirmation of a fall in XMR/USD quotes with a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud and closing below 105.00.
Monero forecast & analysis XMR/USD October 29, 2018 suggests an attempt to develop cryptocurrency correction and resistance level test near 107.00, from which we can expect the Monero rate to continue falling with a potential target near 100.00, a strong growth will be canceled and a breakdown of 110.50 will occur that would indicate continued growth.