FxWirePro- Ethereum Daily Outlook

ETHUSD trades above the $3000 level as the ETH ETF launch date nears. It hit a high of $3113 yesterday and is currently trading at around $3061.

ETH ETF issuers started filing S-1 registration drafts to the SEC on Monday. 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 $3520/$3700/ $4000/$4500/$5000. Significant bullish continuation only above $4800.

The immediate support is around $3000. Any breach below $3000 confirms bearish continuation. A dip to $2800 is possible. A violation below $2800 will drag the Ethereum to $2500/$2300/$2000.

It is good to buy on dips around $2850-60 with SL around $2750 for TP of $4500.

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