FxWirePro- Ethereum Daily Outlook

ETHUSD trades flat after forming a minor bottom around $3086. It hit a high of $3396 yesterday and is currently trading at around $3387.

Blackrock’s Ethereum ETF observed $118 million inflows on Tuesday higher than BTC ETF inflows of $74.9 million. The intraday bullishness is possible if it holds above $3400.On the higher side, the near-term resistance is $3400. Any significant jump above the target is $3565/$3630/$3700. Significant bullish continuation only above $4000.

The immediate support is around $3200. Any breach below $3200 confirms bearish continuation. A dip to $3130/$3000/$2800 is possible. A violation below $2800 will drag the Ethereum to $2500/$2300/$2000.

It is good to buy on dips around $3200 with SL around $3000 for TP of $4500.