Ethereum slipped 5.16% on Friday. Partially reversing an 8.89% rally from Thursday, Ethereum ended the day at $ 1,168.1.
A bullish start to the day saw Ethereum rise to an early morning intraday high of $ 1,255.59 before reversing.
Below the first major resistance level at $ 1290, Ethereum slipped to a late-afternoon intraday low of $ 1065.0.
The reversal saw Ethereum fall through the first major support level at $ 1130, briefly revisiting the $ 1175 levels.
At the time of writing, Ethereum was up 2.01% to $ 1,191.62. A mixed start to the day saw Ethereum drop to an early morning low of $ 1,168.29 before rising to $ 1,195.51.
Ethereum left major support and resistance levels untested early on.
For the day ahead
Ethereum should avoid a fall from the pivot level to $ 1163 to support a run to the first major resistance level at $ 1261.
Support from the broader market would be needed for Ethereum to break out of Friday’s $ 1,255.59 high, however.
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- According to the source Ripple’s Ethereum, Litecoin, and XRP – Daily Tech Analysis – January 16, 2021
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