Quotes of the digital currency XMR/USD continue to move in the downward correction and the bullish channel. At the time of the publication of the forecast, the cost of Monero to the US Dollar is 51.21. At the moment, we should expect an attempt to fall and a test of the support level near the area of 50.50. Then rebound and continued growth of the digital asset in the region above the level of 55.00.
Monero forecast forecast March 16, 2019
The upward support line test on the relative strength index (RSI) will be in favor of rising XMR/USD quotes. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation option growth rate Monero March 16, 2019 will fall and the breakdown level of 49.50. This will indicate a breakdown of the lower boundary of the ascending channel and the continuation of the fall of the XMR/USD digital asset quotes to the area below the 47.00 level. The growth will be confirmed by the breakdown of the resistance area and the close above the level of 53.00.
Monero forecast forecast March 16, 2019 suggests an attempt to test the support level near the 50.50 area. Where can we expect a rebound and the continued growth rate of Monero with a goal above the level of 55.00. An additional signal in favor of lifting will be the test of the support line on the relative strength index (RSI). Cancellation of the growth option will be the breakdown of the support area and closing quotes below 49.50.