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ETHUSD showed a massive jump on ETH ETF approval optimism. It hit a high of $3821 at the time of writing and is currently trading around $3762.
The chance of ETH ETF approval by the SEC increased to 75% from 25%, according to Bloomberg analysts Eric Balchunas and James Seyffart.
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 $3500. Any breach below $3500 confirms a bearish continuation. A dip to $3200/$2800 is possible. A violation below $2800 will drag the Ethereum to $2500/$2300/$2000.
It is good to buy on dips around $3500 with SL around $3200 for TP of $4500.
