Ethereum
Ethereum slid by 13.87% in the week ending 13th September. Partially reversing 22.49% breakout from the previous week, Ethereum ended the week at $3,403.75.
A mixed start to the week saw Ethereum rise to a Monday intraweek low $3,973.27 before hitting reverse.
Falling short of the first major resistance level at $4,273, Ethereum tumbled to a Tuesday intraweek low $3,009.00.
Ethereum fell through the first major support level at $3,388 and the 23.6% FIB of $3,369.
Steering clear of sub-$3,000, however, Ethereum broke back through the 23.6% FIB and the first major support level to revisit $3,500 levels.
A 2nd pullback, however, saw Ethereum briefly fall back through the first major support level and the 23.6% FIB before ending the week at $3,400 levels.
4-days in the red that included a 12.52% slide on Tuesday delivered the downside in the week.
For the week ahead
Ethereum would need to move through the 23.6% FIB of $3,369 and the $3,462 pivot level to support a run at the first major resistance level at $3,915.
Support from the broader market would be needed, however, for Ethereum to break out from $3,500 levels.
Barring an extended crypto rally, the first major resistance level and last week’s high $3,973.27 would likely cap any upside.
In the event of another extended breakout, Ethereum could test the second major resistance level at $4,426.
Failure to move through the 23.6% FIB and the $3,462 pivot would bring the first major support level at $2,951.
Barring an extended sell-off in the week, Ethereum should steer clear of the second major support level at $2,824.
At the time of writing, Ethereum was down by 1.95% to $3,337.24. A mixed start to the week saw Ethereum rise to an early Monday high $3,430.00 before falling to a low $3,329.24.
While leaving the major support and resistance levels untested at the start of the week, Ethereum fell through the 23.6% FIB of $3,369.