Ethereum faces negative pressure – Analysis - 08-01-2019

Ethereum price shows negative trading now to test the correctional bullish channel’s support, noticing that the EMA50 keeps protecting trading inside this channel, to keep the bullish trend scenario active until now, and the price needs to step above 154.00 level again to ease the mission of heading towards our next positive target at 170.76.

We should note that breaking 148.50 followed by 137.24 levels will stop the current bullish wave and press the price to turn back to the main bearish track.

Expected trading range for today is between 140.00 support and 170.76 resistance

Expected trend for today: Bullish