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FxWirePro- ETHUSD Daily Outlook

Mon, 24 Jun 2024, 04:13 am UTC

ETHUSD has traded flat with no direction for the past ten days. It hit a low of $3444 at the time of writing and is currently trading around $3502.

ETH investors are preparing to sell $1.11 bn listed across exchanges as ETH ETF listing takes longer than usual.

The intraday bullishness is possible if it holds above $4000. On the higher side, the near-term resistance is $4000. Any significant jump above the target is $4500/$5000—significant bullish continuation only above $4800.

The immediate support is around $3300. Any breach below $3500 confirms a bearish continuation. A dip to $3200/$3000/$2800 is possible. A violation below $2800 will drag the Ethereum to $2500/$2300/$2000.

It is good to buy on dips around $3300 with SL around $3000 for TP of $4500

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