FxWirePro- Ethereum Daily Outlook

ETHUSD crossed the psychological resistance of $3000 for the first time since Apr 2022. It hit a low of $3032 yesterday and is currently trading around $2903.50.

The upcoming Cancun upgrade and speculation of ETH ETF approval pushing the pair higher.

The intraday bullishness can be seen if it closes above $3000. On the higher side, the near-term resistance is $3000. Any significant jump above the target of $3200/$35550. Significant bullish continuation only above $3555.

The immediate support is around $2870. Any intraday break below will drag the pair to $2800/$2725/2670/$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 $2840-45 with SL around $2700 for TP of $3500.

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