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Ethereum
Ethereum slipped 10.65% in the week ending June 20. After falling 7.40% from the previous week, Ethereum ended the week at $ 2,242.90.
A bullish start to the week saw Ethereum hit an intra-week high of $ 2,640.00 on Tuesday before reversing.
Below 38.2% FIB of $ 2,740 and the first major resistance level at $ 2,820, Ethereum slipped to an intra-Sunday Sunday low of $ 2,042.50.
Ethereum broke through the first major support level at $ 2,230 before a partial rally to $ 2,240.
4 days in the red which included a 6.91% drop on Wednesday and a 5.85% drop on Friday delivered the setback of the week.
For the coming week
Ethereum is expected to break through the pivot at $ 2,308 to bring into play the first major resistance level at $ 2,574.
However, broad market support would be needed for Ethereum to return to levels of $ 2,500.
Barring a prolonged crypto rally, the first major resistance level and last week’s $ 2,640.00 high would likely cap any rise.
In the event of a prolonged breakout, Ethereum could test resistance at $ 3,000 before any pullbacks. The second major resistance level is located at $ 2,906. Ethereum would need a lot of support, however, to exit the 38.2% FIB of $ 2,740.
Failure to cross the pivot at $ 2,308 would bring into play the first major support level at $ 1,977.
Unless another extended sell-off during the week, Ethereum is expected to avoid levels below $ 1,900 and FIB at 62% of $ 1,725. The second major support stands at $ 1,711.
At the time of this writing, Ethereum was down 1.08% at $ 2,218.75. A mixed start to the week saw Ethereum peak at $ 2,259.10 on Monday morning before falling to a low of $ 2,212.69.
Ethereum left major support and resistance levels untested earlier this week.
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