FxWirePro- Ethereum Daily Outlook

ETHUSD trading higher for a second consecutive week on upbeat market sentiment. It hit a high of $2868 yesterday and is currently trading around $2830.

The Ethereum staking and Dencun upgrade contributed to the positive sentiment.

The intraday bullishness can be seen if it breaks above $2870. On the higher side, the near-term resistance is $2870. Any break above the target of $3000/$3200. Significant bullish continuation only above $3555.

The immediate support is around $2780. Any intraday break below will drag the pair to $2700/$2670/$2575/$2500.Any breach below $2470 confirms bearish continuation. A dip to $ 2400/$ 2350 is possible. A violation below $2100 will drag the Ethereum to $1870.

It is good to buy on dips around $2720 with SL around $2600 for TP of $3500.

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