Ethereum Analysis January 15, 2018

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ETH/USD

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.

ETH/BTC

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.