Monero is trading at 67.66. 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 9, 2019. The test of the upper boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 63.75. Where can we expect a rebound and an attempt to continue the fall of cryptocurrency with a target at 77.35.
Monero Forecast and XMR/USD Analysis April 9, 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 71.35. The support area for XMR/USD is located at 64.55.
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 the level of 59.25. 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 acceleration of growth of XMR/USD quotes with the breakdown of the resistance area and closing above the level of 71.35.
Monero Forecast and XMR/USD Analysis April 9, 2019 suggests an attempt to develop a cryptocurrency correction and a support level test near 63.75. Where can we expect to continue the growth rate of Monero with a potential goal near the level of 77.35. Cancellation of the lifting option will be the fall and the breakdown of the area of 59.25. This will indicate a continuation of the decline with a potential target of 55.50.