FxWirePro- Ethereum Daily Outlook

ETHUSD holds above $3000 on upbeat market sentiment. It hit a high of $3058 at the time of writing and is currently trading around $3021.

Grayscale CEO said: “We are just a couple of weeks away from seeing the SEC’s first thinking on spot ethereum products and we are optimistic that the SEC will do the right thing by investors.”

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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