15 Jan Ethereum Analysis January 15, 2018
Ethereum markets rally during the Friday session, as it looks like we are trying to break above the $1300 level again. With this bounce it looks likely that we will not only reach that level, but perhaps reach towards the fresh, new high. The volume is drifting a bit lower though, so I think that pullbacks will happen. Keep in mind that Monday as Martin Luther King Jr. day in America, so once the Americans take over, things probably get quiet.
Ethereum has rallied slightly against Bitcoin, looking likely to continue to reach towards the 0.10 level as we have formed a bit of an ascending triangle. The 20 SMA looks to be supportive as well, so I believe that the buyers will get involved. It will be a grind to the 0.10 level though, which of course will be rather resistive.
Thanks for watching, I’ll be back tomorrow.