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ETHUSD is trading higher after a major sell-off. It hit a high of $2526 yesterday and is currently trading at around $2496.
ETH ETF (9 spot ETF) witnessed an outflow of $15.71 million on Aug 9th led by Grayscale of $41.68 million and BlackRock attracted an inflow of $19.64 million.
The intraday bullishness is possible if it holds above $2800.On the higher side, the near-term resistance is 2800. Any significant jump above targets $3000/$3200. Significant bullish continuation only above $3400.
The immediate support is around $2500. Any breach below $2500 confirms bearish continuation. A dip to $2300/$2100/$1800/$1500 is possible. A violation below $1500 will drag the Ethereum to $1000.
It is good to buy on dips around $2500 with SL around $2300 for TP of $3000.
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