Ethereum fluctuates at the key support – Analysis - 24-01-2018

Ethereum price hovers around the key support 958.00 after attempting to break it yesterday, and the price falls under continuous negative pressure provided by the EMA50, while stochastic prepares to provide negative overlapping signal on the four hours’ time frame.

Therefore, these factors encourage us to suggest extending the correctional bearish wave to target 8484.14 areas on the near term basis, taking into consideration that breaching 1068.00 will release the price from the expected negative pressure and return to rise again.

Expected trading range for today is between 900.00 support and 1020.00 resistance

Expected trend for today: Bearish