Ethereum fell by 8.05% in the week ending 27th September. Following a 2.21% decline from the previous week, Ethereum ended the week at $3,060.71.
A mixed start to the week saw Ethereum rise to a Monday intraweek high $3,346.58 before hitting reverse.
Falling short of the 23.6% FIB of $3,369 and the first major resistance level at $3,633, Ethereum slid to a Tuesday intraweek low $2,651.0.
The reversal saw Ethereum fall through the first major support level at $3,068 and the second major support level at $2,807.
Ethereum also fell through the 38.2% FIB of $2,740 before revisiting $3,100 levels.
A 2nd pullback late in the week saw Ethereum fall back through the first and second major support levels.
Finding support at the 38.2% FIB of $2,740, however, Ethereum broke back through the second major support level to end the week at $3,060 levels.
The first major support level at $3,068 pegged Ethereum back at the end of the week.
4-days in the red that included a 10.58% slide on Monday delivered the downside in the week.
For the week ahead
Ethereum would need avoid the $3,019 pivot level to support a run at the 23.6% FIB of $3,369 and the first major resistance level at $3,388.
Support from the broader market would be needed, however, for Ethereum to break out from $3,300 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $3,400 would likely cap any upside.
In the event of another extended breakout, Ethereum could test resistance at $4,000 before any pullback. The second major resistance level sits at $3,715.
A fall through the $3,019 pivot would bring the 38.2% FIB of $2,740 and the first major support level at $2,692 into play.
Barring an extended sell-off in the week, Ethereum should steer clear of sub-$2,500 support levels. The second major support level sits at $2,324.
At the time of writing, Ethereum was up by 3.18% to $3,158.12. A choppy start to the week saw Ethereum fall to an early Monday low $3,028.76 before rising to a high $3,166.79.
Ethereum left the major support and resistance levels untested at the start of the week.