FxWirePro- Ethereum Daily Outlook

ETHUSD pared most of its gains on weak market sentiment. It hit a low of $2815 at the time of writing and is currently trading around $3016.70.

Ethereum whale 0x035 has offloaded 1767 ETH which was transferred to the leading exchange Upbit. In the past 24 hours, around 56000 ETH was offloaded to one of the leading exchanges.

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 $3300/$3360/$3400/$3500/$3620/$3700/$3800/$4000. Significant bullish continuation only above $4800.

The immediate support is around $2800. Any breach below $2800 confirms bearish continuation. A dip to $2700/$2500 is possible. A violation below $2500 will drag the Ethereum to $2300/$2000.

It is good to buy on dips around $2800 with SL around $2500 for TP of $4000.

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