FxWirePro- Ethereum Daily Outlook

ETHUSD formed a triple bottom around $2800 and showed a minor pullback. It hit a high of $3221 yesterday and is currently trading around $3121.

MicroStrategy Chairman Micheal Saylor said that Ethereum is a crypto asset security and predicted that ETH ETF would not be approved.

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.

TokenPost | [email protected]