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ETHUSD hits fresh year high ahead of Dencun upgrade. It hit a high of $3900 yesterday and is currently trading around $3797.
According to data from ultrasound. money, $190 million ETH burned ahead of the Dencun upgrade.
The intraday bullishness is possible if it holds above $4000. On the higher side, the near-term resistance is $4000. Any significant jump above the target of $4350/$4800. Significant bullish continuation only above $4800.
The immediate support is around $3700. Any intraday break below will drag the pair to $3500/$3370/$3300/$3200. Any breach below $3200 confirms bearish continuation. A dip to $3080/$3000 is possible. A violation below $2700 will drag the Ethereum to $2500/$2300.
It is good to buy on dips around $3600 with SL around $3450 for TP of $4000.
