FxWirePro- Ethereum Daily Outlook

ETHUSD lost its shine and followed in the footsteps of BTC. It hit a low of $3014.30 at the time of writing and is currently trading around $3016.70.

Six whales including FTX/Alameda dumped almost 44000 ETH, according to Lookonchain. The outflows of ETH in this month have reached $123.8 million.

The intraday bullishness is possible if it holds above $3360. On the higher side, the near-term resistance is $3360. Any significant jump above the target is $3400/$3500/$3620/$3700/$3800/$4000. Significant bullish continuation only above $4800.

The immediate support is around $3000. Any breach below $3000 confirms bearish continuation. A dip to $3000/$2700 is possible. A violation below $2700 will drag the Ethereum to $2500/$2300.

It is good to buy on dips around $3000 with SL around $2800 for TP of $4000.

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