Monero forecast and Analytics XMR/USD for October 16, 2018

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Monero forecast and Analytics XMR/USD for October 16, 2018

Cryptocurrency Monero XMR/USD is trading at 107.95. Cryptocurrency trading below the lower border of the Ichimoku Kinko Hyo Cloud, indicating a downward trend for Monero. Under the forecast of the course of bitcoin on October 16, 2018, is expected to test the upper boundary of the Clouds Ichimoku Kinko Hyo is close to the level of 108.50, where we can expect rebound and attempted another cryptocurrency aimed at the level of 97.00.

Monero forecast and Analytics XMR/USD for October 16, 2018

Additional signal in favor of the fall of the cryptocurrency will perform the test of resistance and rebounded from the upper border of the descending channel. Earlier it was obtained a strong signal for sales of the cryptocurrency Monero, due to the intersection of the signal lines at the level of 114.00.

The cancellation option drop in prices of Monero will be a break of the upper border of the Ichimoku Kinko Hyo Cloud with the closing of the quotations above the level of 115.00. This will point to a change in the downward trend in favor of the upward trend and the continued growth of the cryptocurrency. To expect accelerating declines XMR/USD is a breakout of the lower border of the descending channel and close below 105.00 level.

Thus, Monero forecast and Analytics XMR/USD for October 16, 2018 involves the attempt to develop correction cryptocurrency and test the resistance level near 108.50, where is expected to continue the depreciation of the Monero with a potential target near the level of 97.00, lifting the drop option will deliver strong growth and the breakdown region 115.00, which indicates continued growth.

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