ETHUSD hit a multi-month high, following in the footsteps of Bitcoin. It hit a high of $2930 at the time of writing and is currently trading around $2907.
Ethereum Dencun upgrade on Mainnet is set to happen on Mar 13th, 2024. It increases the data storage and reduces costs.
The intraday bullishness can be seen if it breaks above $3000. On the higher side, the near-term resistance is $3000. Any break above the target of $3200/$35550. Significant bullish continuation only above $3555.
The immediate support is around $2860. Any intraday break below will drag the pair to $2800/$2725/2670/$2575/$2500. Any breach below $2470 confirms bearish continuation. A dip to $ 2400/$ 2350 is possible. A violation below $2100 will drag the Ethereum to $1870.
It is good to buy on dips around $2840-45 with SL around $2700 for TP of $3500.
