Chart pattern- Double bottom
Major resistance - $2820 (Support turned into resistance)
ETHUSD showed a minor pullback after forming a double bottom around $2100.It hit a high of $2704 at the time of writing and is currently trading at around $2649.
ETH ETF saw the highest outflow of $79 million on Monday led by Grayscale’s ETHE.
Ethereum Foundation sold another 200 $ETH for 527,989 $DAI again, bringing the total amount of $ETH sold in September to 1,150 $ETH ($2.8M).
The intraday bullishness is possible if it holds above $2820.On the higher side, the near-term resistance is 2820. Any significant jump above targets $3000/$3200. Significant bullish continuation only above $3400.
The immediate support is around $2500. Any breach below $2500 confirms bearish continuation. A dip to $2300/$2100/$1800/$1500 is possible. A violation below $1500 will drag the Ethereum to $1000.
It is good to buy above $2820 with SL around $2700 for TP of $3200.
