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FxWirePro- Ethereum Daily Outlook

Thu, 20 Jun 2024, 01:18 am UTC

ETHUSD gained momentum on ETH ETF optimism. It hit a low of $3351 yesterday and is currently trading around $3557.

Hashdex Nasdaq crypto index ETF filed a 19 b-4 filing for spot BTC and ETH ETF account for 70.54% and 29.46% weight respectively.

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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