Ethereum fell by 2.04% on Sunday. Partially reversing a 5.27% rally from Saturday, Ethereum ended the week up by 28.02% to $1,255.13.
It was a bullish start to the day. Ethereum rose to a late morning intraday high and a new swing high $1,350.88 before hitting reverse.
Ethereum broke through the first major resistance level at $1,336.68 before sliding to late intraday low $1,153.0.
The sell-off saw Ethereum fall through the first major support level at $1,199.54.
Finding late support, Ethereum revisited $1,288 levels before easing back to end the day at $1,255 levels.
At the time of writing, Ethereum was down by 1.77% to $1,232.91. A mixed start to the day saw Ethereum rise to an early morning high $1,260.24 before falling to a low $1,217.88.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back through the pivot level at $1,253.00 to support a run at the first major resistance level at $1,353.01.
Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $1,350.88.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another extended crypto rally, Ethereum could test the second major resistance level at $1,450.88.
Failure to move back through the $1,253.00 pivot would bring the first major support level at $1,155.13 into play.
Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $1,055.12 and the 23.6% FIB of $1,051.
Looking at the Technical Indicators
First Major Support Level: $1,155.13
Pivot Level: $1,253.00
First Major Resistance Level: $1,353.01
23.6% FIB Retracement Level: $1,051
38.2% FIB Retracement Level: $866
62% FIB Retracement Level: $566