FxWirePro- Ethereum Daily Outlook

ETHUSD surged more than 8% this week following in the footsteps of BTC. It hit a high of $3518 at the time of writing and is currently trading at around $3437.

Citi Bank predicts that ETH ETF will get inflows of $5 billion in the past six months. The intraday bullishness is possible if it holds above $3520.On the higher side, the near-term resistance is $3520. Any significant jump above the target is $3700/ $4000/$4500/$5000. Significant bullish continuation only above $4800.

The immediate support is around $3200. Any breach below $3000 confirms bearish continuation. A dip to $3000/$2800 is possible. A violation below $2800 will drag the Ethereum to $2500/$2300/$2000.

It is good to buy on dips around $3000 with SL around $2800 for TP of $4500.