Monero is trading at 70.08. XMR/USD quotes move above the upper boundary of the Ichimoku Kinko Hyo Cloud. This indicates an upward trend in Monero. As part of the cryptocurrency exchange rate forecast for April 7, 2019. The test of the upper limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 66.55. Where should we expect a rebound and an attempt to continue the fall of cryptocurrency with the goal at the level of 80.05.
Monero Forecast and XMR/USD Analysis April 7, 2019
An additional signal in favor of the fall of cryptocurrency will be the test of the support area. The second signal will be a rebound from the lower boundary of the rising channel. Earlier, a weak signal was received for BUY the Monero cryptocurrency. The signal was formed due to the intersection of the signal lines at the level of 50.15. The nearest resistance area is at 75.05. The area of support for XMR/USD is at 65.25.
Cancellation of the growth option of Monero quotes will be a breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with quotes closing below 61.35. This option will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall in cryptocurrency quotes. Expect to accelerate the growth of XMR/USD quotes with the breakdown of the upper limit of the model «Triangle» and closing above the level of 72.75.
Monero Forecast and XMR/USD Analysis April 7, 2019 suggests an attempt to develop a cryptocurrency correction and a support level test near 66.55. Where can we expect to continue the growth rate of Monero with a potential target near the level of 80.05. Cancellation option lift will fall and the breakdown of the area of 61.35. This will indicate a continuation of the decline with a potential target of 55.50.