Ethereum price analysis: ETH/USD looks set to close the week below two significant price areas
|- Ethereum gives up small pullback, nursing losses of 3% on Friday.
- Worst run of weekly losses seen for ETH/USD since the drop in March.
The Ethereum price is nursing losses in the latter stages of trading on Friday, down over 3%, with chunky losses seen on the week. Crypto market wide theme of selling has been the dominant story throughout the week.
ETH/USD is down around 25% this trading week, taking it towards its third consecutive week in the red. The worst run of losses seen since March, where the price dropped some 60%, before recovering in April.
Technically speaking, given the weekly close below two key areas, the bears may look here for further opportunities to drive ETH/USD lower. Should the downside continue, the next area likely to be tested will be $500 and then the mid $300 region. Resistance is seen at $630 and then $750 in the near-term.
ETH/USD weekly chart
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