Ethereum triggered our buy levels on Feb.14. But, it also has failed to extend its pullback. It entered a small range day yesterday, Feb. 15, and is following it up with another short range day today, Feb.16.
While the ETH/USD pair has not given up any ground, it has struggled to move up. Our first target objective was a move to the 50-day SMA, currently close to the $1,000 mark followed by a rally to $1,050 levels.
The stop loss remains at $775, because we don’t find any higher logical stop loss level.