ETHUSD trades below the $3000 level due to risk aversion. It hit a low of $2822 yesterday and is currently trading at around $2970.
According to Bloomberg reports, ETH ETF will commence trading by Jul 15th, 2024.
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 $3520/$3700/ $4000/$4500/$5000. Significant bullish continuation only above $4800.
The immediate support is around $2800. Any breach below $3100 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 $2850-60 with SL around $2750 for TP of $4500.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.