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ETHUSD is trading flat after hitting after a minor sell-off. It hit a low of $2239 yesterday and is currently trading around $2261.
According to Standard Chartered Bank, the SEC will likely approve spot Ethereum ETFs by May 23rd, 2024.
The intraday bullishness can be seen if it breaks above $2300. On the higher side, the near-term resistance is $2300. Any break above targets $2350/$2375/$2400. Significant bullish continuation only above $2700.
The immediate support is around $2225. Any intraday break below will drag the pair to $2165/$2100.Any breach below $2100 confirms a bearish continuation. A dip to $2000/$1900 is possible. A violation below $1870 will drag the Ethereum to $1500.
It is good to buy on dips around $2000 with SL around $1900 for TP of $2500.
