Monero XMR/USD is trading at 51.97. 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 March 31, 2019. A test of the upper limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 50.95. Where should we expect a rebound and an attempt to continue the fall of cryptocurrency with the goal at the level of 56.95.
Monero forecast and XMR/USD Analysis March 31, 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 upper boundary of the bearish channel. Earlier, a weak signal was received for BUY the Monero cryptocurrencies. The signal was formed due to the intersection of signal lines at the level of 49.55. The nearest resistance area is at 54.00. The area of support for XMR/USD is located at 50.75.
Cancellation of the growth option of Monero quotes will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the level of 49.35. 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 quotes XMR/USD stands with the breakdown of the resistance area and closing above the level of 53.75.
Monero forecast and XMR/USD Analysis March 31, 2019 implies an attempt to develop a cryptocurrency correction and a support level test near 50.95. Where can we expect to continue the growth rate of Monero with a potential target near the level of 56.95. Cancellation of the lifting option will be the fall and the breakdown of the area 49.10. This will indicate continued decline with a potential target of 49.35.