ETHUSD surged more than 3% yesterday despite weak BTC. It hit a high of $3484 yesterday and is currently trading around $3452.
US core Personal Consumption Expenditure (PCE) rose 2.6% in May, down from 2.7% in Apr.
According to Galaxy research, ETH ETF inflows are expected to get $5 billion inflows in the first five months. The intraday bullishness is possible if it holds above $4000. On the higher side, the near-term resistance is $3500. Any significant jump above the target is $3700/ $4000/$4500/$5000. Significant bullish continuation only above $4800.
The immediate support is around $3200. Any breach below $3200 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 $3200 with SL around $3000 for TP of $4500.