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FxWirePro- Ethereum Daily Outlook

Tue, 09 Jul 2024, 02:34 am UTC

ETHUSD trades below the $3000 level due to risk aversion. It hit a low of $2822 yesterday and is currently trading at around $2970.

According to Bloomberg reports, ETH ETF will commence trading by Jul 15th, 2024.

The intraday bullishness is possible if it holds above $3200. On the higher side, the near-term resistance is $3200. Any significant jump above the target is $3520/$3700/ $4000/$4500/$5000. Significant bullish continuation only above $4800.

The immediate support is around $2800. Any breach below $3100 confirms bearish continuation. A dip to $3000/$2800 is possible. A violation below $2800 will drag the Ethereum to $2500/$2300/$2000.

It is good to buy on dips around $2850-60 with SL around $2750 for TP of $4500.

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