Ethereum fell by 0.58% on Monday. Partially reversing a 0.82% gain from Sunday, Ethereum ended the day at $2,138.03.
A mixed start to the day saw Ethereum rise to a mid-morning intraday high and a new swing hi $2,199.11 before hitting reverse. Ethereum broke through the first major resistance level at $2,172 and the second major resistance level at $2,193.
Coming up against resistance at $2,200, Ethereum slid to a late afternoon intraday low of $2,102.55.
The reversal saw Ethereum fall through the first major support level at $2,121 before ending the day at $2,138 levels. At the time of writing, Ethereum was up by 0.21% to $2,142.50. A mixed start to the day saw Ethereum fall to an early morning low of $2,135.90 before rising to a high of $2,145.19.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the pivot level at $2,147 to support a run at the first major resistance level at $2,191. Support from the broader market would be needed, however, for Ethereum to break back through to $2,190 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s new swing hi $2,199.11 would likely cap any upside.
In the event of a breakout, Ethereum could test resistance at $2,300 before any pullback. The second major resistance level sits at $2,243. Failure to move through the $2,147 pivot would bring the first major support level at $2,094 into play.
Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$2,050 levels. The second major support level at $2,050 should limit the downside.
