FxWirePro- Ethereum Daily Outlook

ETHUSD trades higher follows the footsteps of Bitcoin. It hit a high of $3389 at the time of writing and is currently trading at around $3387.

Ethereum Open Interest has increased by approximately $1.5 billion in the last three weeks.

The intraday bullishness is possible if it holds above $3400.On the higher side, the near-term resistance is $3400. Any significant jump above the target is $3565/$3630/$3700. Significant bullish continuation only above $4000.

The immediate support is around $3250. Any breach below $3250 confirms bearish continuation. A dip to $3200/$3130/$3000/$2800 is possible. A violation below $2800 will drag the Ethereum to $2500/$2300/$2000.

It is good to buy on dips around $3200 with SL around $3000 for TP of $4500.

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