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ETHUSD surged past $3000 on upbeat market sentiment. It hit a high of $3041 yesterday and is currently trading around $2994.
US equity markets hit a fresh all-time high after easing US inflation data. The equities and crypto markets have a positive correlation with each other.
The intraday bullishness is possible if it holds above $3000. On the higher side, the near-term resistance is $3050. Any significant jump above the target is $3200/ $3300/$3360/$3400/$3500/$3620/$3700/$3800/$4000. Significant bullish continuation only above $4800.
The immediate support is around $2800. Any breach below $2800 confirms bearish continuation. A dip to $2700/$2500 is possible. A violation below $2500 will drag the Ethereum to $2300/$2000.
It is good to buy on dips around $2800 with SL around $2500 for TP of $4000.
