Monero XMR/USD is trading at 112.40. Cryptocurrency is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates that there is an upward trend in Monero. As part of the Monero forecast & analysis XMR/USD November 5, 2018, a test of the area of Ichimoku Kinko Hyo signal lines is expected near the 110.00 level. Where can we expect a rebound and an attempt to continue the growth of cryptocurrency with a target at 120.00.
Monero forecast & analysis XMR/USD November 5, 2018
An additional signal in favor of the growth of cryptocurrency will be a test of the support area, as well as a rebound from the lower boundary of the ascending channel. Earlier, a weak signal was received for BUY the Monero cryptocurrency, due to the intersection of signal lines at the level of 103.50.
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 above 105.00. 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 115.00.
Monero forecast & analysis XMR/USD November 5, 2018 suggests an attempt to develop a correction of cryptocurrency and a test of the resistance level near 110.00, from which one can expect continued growth of the Monero rate with a potential target near the level of 120.00. Cancellation of the growth option will be the fall and a breakdown of the area of 105.00, which will indicate a continued decline.