FxWirePro- Ethereum Daily Outlook

ETHUSD showed a minor comeback after a less hawkish Fed policy. It hit a high of $3013 yesterday and is currently trading around $2997.

Ethereum liquidation exceeded for the second consecutive day to $91.76 million vs 68.51 million BTC liquidation. According to Lookonchain, Grayscale transferred 5626 ETH to Flow traders four times in the past months, totaling 23178 ETH.

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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