FxWirePro- Ethereum Daily Outlook

ETHUSD trades weak following footsteps of Bitcoin. It hit a low of $3204 yesterday and is currently trading around $3316.

Markets eye SEC spot ETH ETF approval timeline for further direction.

The intraday bullishness is possible if it holds above $3700. On the higher side, the near-term resistance is $3700. Any significant jump above the target is $3800/$4000. Significant bullish continuation only above $4800.

The immediate support is around $3200. Any breach below $3200 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 $3200 with SL around $3000 for TP of $4000.

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