A look ahead Monero forecast October 16 — 20, 2017

• expected to attempt a rebound and in addition fall with the goal near the extent of seven.Ninety
  
  
• The ETC/USD pair is about to break a contracting triangle support at $11.50 on the hourly chart (Data feed via Kraken).
  
  
• The pair might continue to decline and could even test the $11.10-11.00 area.
  

Ethereum Classic ETCUSD and many others/USD complete the trading week close to the eleven.Fifty-two area. Cryptocurrency is buying and selling underneath the decrease boundary of the Ichimoku Kinko Hyo cloud, which shows a bearish fashion in the ethereum classic. Ichimoku Kinko Hyo lower limit test is predicted near the level of 13.40, from which it is expected to attempt a rebound and in addition fall with the goal near the extent of seven.Ninety. An extra sign in the desire of falling quotations of the cryptocurrency could be a resistance stage check.

There has been no upside pass in and so forth fee above the $12.00 towards us dollar. The price started a drawback circulate after correcting towards the $12.00 degree. Earlier than the stated failure, there was a damage above the 50% fib retracement level of the final leg down from the $12.50 high to $11.02 low. However, the rate failed to clean the $12.00 manage and a bearish trend line.

Furthermore, the 61.8% fib retracement level of the ultimate leg down from the $12.50 excessive to eleven.02 low acted as a hurdle. As a result, there has been a disadvantage reaction, and the and so forth/usd pair may soon ruin a contracting triangle guide at eleven.50 on the hourly chart. The pair is currently nicely under the eleven.Eighty resistance and the 100 hourly easy moving average. Consequently, there's a risk of and so on testing the $11.10 or eleven.00 stage inside the near time period.