FxWirePro- Ethereum Daily Outlook

ETHUSD hits fresh year high following the footsteps of BTC. It hit a high of $3745 yesterday and is currently trading around $3731.

The upcoming Dencun upgrade on Mar 13th, 2024 on Main Net supports ETH at lower levels.

The intraday bullishness is possible if it holds above $3750. On the higher side, the near-term resistance is $3750. Any significant jump above the target of $4000/$4350/$4800. Significant bullish continuation only above $4800.

The immediate support is around $3580. Any intraday break below will drag the pair to $3500/$3370/$3300/$3200. Any breach below $3200 confirms bearish continuation. A dip to $3080/$3000 is possible. A violation below $2700 will drag the Ethereum to $2500/$2300.

It is good to buy on dips around $3600 with SL around $3450 for TP of $4000.

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