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FxWirePro- Ethereum Daily Outlook

Tue, 02 Apr 2024, 02:11 am UTC

ETHUSD has consolidated in a narrow range between $3679 and $3458 in the past two days. It hit a high of $3591 at the time of writing and is currently trading around $3572.

"I think the market's consensus that it will happen in May is possible, but unlikely," Hougan Bitwise investment chief. He also said that the SEC will delay ETH ETF till December.

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

The immediate support is around $3440. Any breach below $3440 confirms bearish continuation. A dip to $3370/$3300/$3200 is possible. A violation below $2700 will drag the Ethereum to $2500/$2300.

It is good to buy on dips around $3400 with SL around $3200 for TP of $4350.

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