ETHUSD showed a minor profit booking after hitting a fresh year high. It hit a low of $3562 and is currently trading around $3682.
Ethereum surged sharply as the Decun upgrade will reduce data fees and transaction costs.
The intraday bullishness is possible if it holds above $3800. On the higher side, the near-term resistance is $3800. Any significant jump above the target of $4050/$4350/$4800. Significant bullish continuation only above $4800.
The immediate support is around $3500. Any intraday break below will drag the pair to $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 $3500 with SL around $3200 for TP of $4350.
