FxWirPro- ETHUSD Daily Outlook

ETHUSD trades flat after a nice pullback. It hit a high of $3518 yesterday and is currently trading at around $3401.

The market expects approval of 10 ETH ETFs next week by the SEC for further direction. The intraday bullishness is possible if it holds above $3530 (61.8 fib retracement).On the higher side, the near-term resistance is $3530. Any significant jump above the target is $3700/ $4000/$4500/$5000—significant bullish continuation only above $4800.

The immediate support is around $3300. Any breach below $3200 confirms bearish continuation. A dip to $3000/$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.