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Major resistance - $2800 (Support turned into resistance)
ETHUSD consolidates in a narrow range ahead of the Jackson Hole symposium. It hit a high of $2690 and is currently trading at around $2613.
According to the Whale tracker, 300000 ETH has been transferred to the US-based exchange Coinbase from two anonymous blockchain addresses. ETH ETF saw an outflow of $874610 yesterday.
The intraday bullishness is possible if it holds above $2800.On the higher side, the near-term resistance is 2800. Any significant jump above targets $3000/$3200. Significant bullish continuation only above $3400.
The immediate support is around $2500. Any breach below $2500 confirms bearish continuation. A dip to $2300/$2100/$1800/$1500 is possible. A violation below $1500 will drag the Ethereum to $1000.
It is good to buy on dips around $2500 with SL around $2300 for TP of $3200.
