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Ethereum
Ethereum rose 7.34% in the week ending 21st February. After rallying 11.65% from the previous week, Ethereum ended the week at $ 1,935.57.
It was also a mixed start to the week. Ethereum fell to an intraweek low on Monday of $ 1,659.93 before taking action.
Avoiding the first major support level at $ 1,621, Ethereum hit an intraweek high on Saturday and a new swing of $ 2,041.42.
Ethereum broke through the first major resistance level at $ 1,932 before falling late on Saturday to return to levels below $ 1,900.
However, finding support late on Saturday and Sunday, Ethereum broke through the first major resistance level to conclude the week at levels of $ 1,935.
The 5 days in the green included a 3.93% gain on Wednesday and a 4.73% rally on Thursday contributed to the week’s rise.
For the coming week
Ethereum should avoid a fall from the pivot level to $ 1879 to support a run to the first major resistance level at $ 2098.
Support from the broader market would be needed, however, for Ethereum to break out of last week’s new swing at $ 2,041.42.
Barring another extended crypto rally, the first major resistance level would likely cap any rise.
In the event of another extended breakout, Ethereum could test resistance at $ 2,300 before any pullbacks. The second major resistance level is located at $ 2,260.
Failure to avoid a drop from the pivot level to $ 1,879 would bring the first major support level at $ 1,717 into play.
Barring an extended sell-off during the week, however, Ethereum should move away from levels below $ 1,700. The second major support level is at $ 1,497.
At the time of writing, Ethereum was down 2.30% at $ 1891.01. A mixed start to the week saw Ethereum hit a high of $ 1,938.95 early Monday before falling to $ 1,871.18.
Ethereum left major support and resistance levels untested earlier this week.
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