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FxWirePro- Ethereum Daily Outlook
ETH prices trade flat after a massive rally of 60%.
ETHUSD has consolidated in a narrow range between $2447 and $2101 for the past four weeks. Whale reports show that there were three massive transactions of 14462 ETH,20997 ETH, and 10051 ETH yesterday. It hit a high of $2296 and is currently trading around $2248.50.
The bullish invalidation can happen if the pair closes below $1920. On the lower side, the near-term support is $2100. Any break below targets $1935/$1870. Significant downtrend if it breaks $1500.
The immediate resistance stands at around $2300. Any violation above $2300 confirms a minor jump to $2500/$2875/$3000 is possible. A surge past $3000 will take Ethereum to $3350/$3500.
It is good to buy on dips around $2100-05 with SL around $1870 for TP of $2500/$2875.
