Ethereum rallied by 13.69% in the week ending 30th May. Partially reversing a 41.43% slump from the previous week, Ethereum ended the week at $2,387.66.
A bullish start to the week saw Ethereum rise to a Wednesday intraweek high $2,913.68 before hitting reverse.
While falling short of the first major resistance level at $3,217, Ethereum broke through the 38.2% FIB of $2,740.
The reversal saw Ethereum slide back through the 38.2% FIB to a Sunday intraweek low $2,182.20.
Steering well clear of the first major support level at $1,355, Ethereum ended the week at $2,380 levels.
4-days in the green that included a 26.27% jump on Monday delivered the upside for the week.
For the week ahead
Ethereum would need to move through the pivot at $2,458 to bring the 38.2% FIB of $2,740 and the first major resistance level at $2,844 into play.
Support from the broader market would be needed, however, for Ethereum to break out from the 38.2% FIB.
Barring an extended crypto rally, the first major resistance level and resistance at $3,000 would likely cap any upside.
In the event of an extended breakout, Ethereum could test resistance at the 23.6% FIB of $3,369 before any pullback. The second major resistance level sits at $3,299.
Failure to move through the pivot at $2,458 would bring the first major support level at $2,002 into play.
Barring another extended sell-off in the week, Ethereum should steer clear of the 62% FIB of $1,725. The second major support sits at $1,616.
At the time of writing, Ethereum was down by 3.44% to $2,305.51. A mixed start to the week saw Ethereum rise to an early Monday high $2,415.47 before falling to a low $2,288.13.
Ethereum left the major support and resistance levels untested at the start of the week.