ETHUSD Daily Outlook

ETHUSD continues to trade weak on dismal US data. It hit a low of $3022 at the time of writing and is currently trading at around $3025..

ETH ETF saw a $77.30 million outflow on Wednesday. ETH whales Elwood drew 19500 to Binancein past two days. The intraday bullishness is possible if it holds above $3220.On the higher side, the near-term resistance is $3220. Any significant jump above the target is $3300/$3400/$3565/$3630/$3700. Significant bullish continuation only above $4000.

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 $3000 with SL around $2800 for TP of $4500.

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