FxWirePro- Ethereum Daily Outlook
ETHUSD gained after a major sell-off. It hit a low of $3302 yesterday and is currently trading around $3507.
The upcoming Dencun upgrade on Mar 13th, 2024 on Main Net supports ETH at lower levels. Ethereum whales swapped 1500 ETH for 88.86 WBTC.
The intraday bullishness is possible if it holds above $3550. On the higher side, the near-term resistance is $3550. Any significant jump above the target of $4000/$4200. Significant bullish continuation only above $3555.
The immediate support is around $3375. Any intraday break below will drag the pair to $3300/$3200. Any breach below $3200 confirms bearish continuation. A dip to $3080/$3000 is possible. A violation below $2700 will drag the Ethereum to $2500/$2300.
It is good to buy on dips around $3370 with SL around $3200 for TP of $4000.
