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Bitcoin and Ethereum – Weekly Technical Analysis – May 17th, 2021 – FX Empire

It's a bearish start to the week. Failure to move through the week's pivot levels would deliver another week of heavy losses.



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Ethereum fell by 8.73% in the week ending 16th May. Partially reversing a 33.07% surge from the previous week, Ethereum ended the week at $3,585.62.
A bullish start to the week saw Ethereum rally to a Wednesday intraweek high and a new swing hi $4,384.43 before hitting reverse.
Ethereum broke through the first major resistance level at $4,277 to come within range of $4,400 levels.
The reversal, however, saw Ethereum slide to a Sunday intraweek low $3,343.57.
While steering clear of the first major…

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