Ethereum
Ethereum saw a 5.4% price hike this week as the coin sits around $3200. It surged above $3200 last Friday to meet resistance near $3350, provided by a bearish .618 Fib Retracement level. Unfortunately, it could not overcome this level and ended up rolling over from there.
Throughout the week, ETH headed lower as it slipped beneath $3000 until support was found on Wednesday at $2960, provided by a .236 Fib and bolstered by the 20-day MA. It has since bounced higher from this support to break back above $3200 today.
Looking head, the first strong resistance now lies at $3350 (bearish .618 Fib). This is followed by $3540 (1.618 Fib Extension), $3600, $3790 (bearish .786 Fib), and $3880 (1.618 FIb Extension – blue).
On the other side, the first support lies at $3000 (20-day MA). This is followed by $2890 (June highs), $2800, $2720 (.382 Fib), and $2530 (.5 Fib & 100-day MA).
ETH/USD Daily Chart. Source: TradingView.
ETH also saw a slight retracement against BTC this week. Th
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