Monero forecast and Analytics XMR/USD on 23 Aug 2018

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Monero forecast and Analytics XMR/USD on 23 Aug 2018

Cryptocurrency Monero XMR/USD is trading at 92.45. The cryptocurrency is trading inside the Cloud of Ichimoku Kinko Hyo, which indicates the presence of a lateral trend for Monero. Expected to test the lower boundary of the Ichimoku Kinko Hyo Cloud near the 91.50 level where we can expect rebound and attempt to continue growth of the cryptocurrency with the aim at the level of 110.00.

Monero forecast and Analytics XMR/USD on 23 Aug 2018

An additional signal in favour of growth of the cryptocurrency will perform test support area and rebound from the lower boundary of the rising channel. Earlier it was obtained a weak signal for selling cryptocurrency Monero, due to the intersection of the signal lines at the level of 97.00.

Cancellation option growth Monero will be a breakout of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of the quotations below the level of 87.00, which indicates the change of lateral tendency in favor of a downward trend and the continued drop in prices of cryptocurrencies. Wait for confirmation that growth of quotations XMR/USD and the resumption of the rising trend is a break above the upper border of the Ichimoku Kinko Hyo Cloud and close above 100.00.

Thus, Monero forecast and Analytics XMR/USD on 23 Aug 2018 involves the attempt to develop correction cryptocurrency and test the support level near 91.50, where we can expect continued growth rate of Monero with a potential target near the level of 110.00, with a cancellation option growth will be the drop and the breakdown region 87.00.

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