Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

FxWirePro- Ethereum Daily Outlook

 ETHUSD trades flat ahead of the Decun upgrade.  It hit a high of $4095 and is currently trading around $4048.

 

Markets eye the Ethereum Dencun Hard fork upgrade today around 13:55 UTC (9:55 am ET) for further movement. It improves layer 2 scaling and reduces transaction fees.

 

The intraday bullishness is possible if it holds above $4000. On the higher side, the near-term resistance is $4050. Any significant jump above the target of $4350/$4800. Significant bullish continuation only above $4800.

 

The immediate support is around $3880. Any intraday break below will drag the pair to $3800/$3700. 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 $3800 with SL around $3600  for TP of $4350.

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.