FxWirePro- Ethereum Daily Outlook

ETHUSD consolidating after a massive jump of more than $1000. It hit a high of $3950 and is currently trading around $3808.

Around six issuers such as Fidelity, Van Eck, Franklin Templeton, Invesco Galaxy, Bitwise, and 21 Shares have submitted updated spot ETH ETF s-1 filings with SEC.

The intraday bullishness is possible if it holds above $4000. On the higher side, the near-term resistance is $4000. Any significant jump above the target is $4500/$5000. Significant bullish continuation only above $4800.

The immediate support is around $3500. Any breach below $3500 confirms bearish continuation. A dip to $3200/$2800 is possible. A violation below $2800 will drag the Ethereum to $2500/$2300/$2000.

It is good to buy on dips around $3700 with SL around $3500 for TP of $4500.

TokenPost | [email protected]