The SEC and the Fed Hold the Key to ETH's Return to $1,600

On Sunday, Ethereum (ETH) declined by 1.56%. ETH closed the week down 7.00% at $1,515, somewhat offsetting a 1.72% gain on Saturday. Since January 14, ETH has fallen below $1,500 twice.

After a range-bound morning, ETH reached a high of $1,548 in the late afternoon. ETH reached a late low of $1,494 after failing to surpass the First Major Resistance Level (R1) at $1,554. ETH dropped below the First Major Support Level (S1) at $1,515 and closed the day at that price.

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Bitcoin (BTC) decreased by 0.32% on Sunday. BTC closed the week at $21,796 down 4.94%, somewhat offsetting a 1.04% gain from Saturday. BTC finished the day below $22,000 for the fourth session in a row and returned above $22,000 for the first time in three sessions.

After a mixed morning session, BTC reached a high of $22,096 in the late afternoon. BTC reached a late-day low of $21,666 after failing to surpass the First Major Resistance Level (R1) at $21,977. Before closing the day at $21,796, BTC momentarily breached the First Major Support Level (S1) at $21,684.