The currency pair fluctuated below the local ascending trend line and above the support area at $214. However, several hours ago we have seen a Shooting Star candlestick pattern, indicating the beginning of a decline. Monero went below the support area at $214 and moved towards the next support at $204, where it is fluctuating at the time of writing.
The Ichimoku cloud is very thin here, meaning there will be no signals from this indicator for a while. The possible scenarios for XMR/USD are:
Monero will bounce off the support area at $204 and start to grow towards $214 to test this area. There the price may jump over the line and develop an uptrend, or decline if testing results will be negative for bulls.
XMR/USD will test the descending mid term trend line (green) and the support area at $204 and then will develop its downside progress.
The currency pair will stay close to the current levels without significant changes.
Check more details HERE
The Ichimoku cloud is very thin here, meaning there will be no signals from this indicator for a while. The possible scenarios for XMR/USD are:
Monero will bounce off the support area at $204 and start to grow towards $214 to test this area. There the price may jump over the line and develop an uptrend, or decline if testing results will be negative for bulls.
XMR/USD will test the descending mid term trend line (green) and the support area at $204 and then will develop its downside progress.
The currency pair will stay close to the current levels without significant changes.
Check more details HERE
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