ETHUSD has been trading sideways between $3221 and $2814 for the past week. It hit a low of $2977 at the time of writing and is currently trading around $2997.
Grayscale withdrew its 19b-4 application for ETH ETF. The SEC is planning to approve Van Eck’s spot ETH ETF on May 23rd 2024.5.8
The intraday bullishness is possible if it holds above $3200. On the higher side, the near-term resistance is $3200. Any significant jump above the target is $3300/$3360/$3400/$3500/$3620/$3700/$3800/$4000—significant bullish continuation only above $4800.
The immediate support is around $2800. Any breach below $2800 confirms bearish continuation. A dip to $2700/$2500 is possible. A violation below $2500 will drag the Ethereum to $2300/$2000.
It is good to buy on dips around $2800 with SL around $2500 for TP of $4000.
