Ethereum hits the first target – Analysis - 14-01-2019

Ethereum price succeeded to achieve our first waited target at 116.50 and settles near it, noticing that the EMA50 forms negative pressure against the price, which supports the chances of breaking the mentioned level and open the way to achieve more negative targets that extend to reach 100.00 followed by 83.00.

Therefore, the bearish bias will remain suggested on the intraday and short term basis, noting that breaching 137.24 represents the first key to start new recovery attempts.

Expected trading range for today is between 100.00 support and 130.00 resistance

Expected trend for today: Bearish