XMR/USD exchange rate Forecast for Monero in August 2018

Of course Monero for August is written with quotes XMRUSD 124.40.

All the time after the burst of the bubble in cryptocurrencies at the beginning of this year, the rate of Monero just fell. However, now the cryptocurrency rate has indicated the level of support, below which it is not ready to go. For the course Monero this is 107.

There have been at least three attempts to upgrade support over the past month, but none have been successful.

On the other hand, the downward trend is still continuing. This can be seen on the trend line plotted on the Monero chart. While the quotes are below this line-the downward trend. As soon as the line is broken up – the trend changes its direction to the upward.

XMR/USD exchange rate Forecast for Monero in August 2018

Monero is trading below the Ichimoku Kinko Hyo cloud, which indicates a downward trend in the cryptocurrency. On the other hand, the signal lines of the Ichimoku indicator already predict an early turn. The red fast signal line crossed the blue slow line from the bottom up in the middle of last month. We are looking at the daily schedule of the Monero course.

Support levels of course Monero are 117 and 107. In case of breaking through the support levels, the purpose of the fall of the cryptocurrency rate will be the psychological level of $ 100 per Monero.

On the other hand, the resistance for the course of Monero stands 135. In the case of breaking the trend line, we will have the prospect of growth of the Monero rate to the level of 195.

The strategy of trading on Monero for the trader will be a purchase from the support levels (stop loss per level). The nearest level is 117, so you can open a buy position right now.

Thus, the forecast rate of Monero in August 2018 assumes a growth of cryptocurrencies with the purpose of the above 195.