Monero XMR/USD completes the trading week near area 105. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Monero. The current trading week is expected to test the lower limit of Ichimoku Kinko Hyo near 110, from where we can expect an attempt to rebound and continue the development of a bearish trend with a target below 80.
Monero weekly forecast October 29 — November 2, 2018
An additional signal in favor of the cryptocurrency fall is the test of the upper limit of the downward channel, as well as the test of the resistance level. Earlier, a weak signal was received for the SELL the Monero cryptocurrency, due to the crossing of signal lines at the 115 level.
Canceling the option of falling quotes XMR/USD will break the upper boundary of the indicator cloud and close above 125, which will indicate a downward trend change in favor of an upward trend. Expect to accelerate the fall of quotations is with the breakdown of the lower boundary of the model «Triangle» and closing below 95.
Monero weekly forecast October 29 — November 2, 2018 implies an attempt to develop a correction to level 110, from which we should expect a rebound and a further fall in cryptocurrency with a potential target near level 80, the test of resistance level will come out in favor, the region will be broken down 125, in this case we can expect continued growth of Monero.