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ETH prices jumped after a minor sell-off.
ETHUSD trades in a narrow range between $2717 and $2456 for the past five days. It hit a high of $2551 and is currently trading around $2542.
The intraday weakness can be seen if it breaks below $2450. On the lower side, the near-term support is $2450. Any break below targets $2415/$2350/$2200. Significant downtrend if it breaks $1900.
The immediate resistance stands at around $2700. Any violation above $2700 confirms a minor jump to 3000/$3580 is possible. A surge past $3600 will take Ethereum to $4000/$4800
It is good to buy on dips around $2540 with SL around $2350 for TP of $3580.
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FxWirePro- Ethereum Daily Outlook
Tuesday, January 16, 2024 1:01 PM UTC
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