ETHUSD has been trading range bound between $2900 and $3355 for the past two weeks. It hit a low of $3118 at the time of writing and is currently trading around $3177.
According to Santiment Ethereum's transaction fees dropped to $1.12, the lowest level since Oct 2023 The intraday bullishness is possible if it holds above $3360. On the higher side, the near-term resistance is $3360. Any significant jump above the target is $3400/$3500/$3620/$3700/$3800/$4000. Significant bullish continuation only above $4800.
The immediate support is around $3100. Any breach below $3100 confirms bearish continuation. A dip to $3000/$2700 is possible. A violation below $2700 will drag the Ethereum to $2500/$2300.
It is good to buy on dips around $3000 with SL around $2800 for TP of $4000.


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