After a two-day dip on Feb. 10 and Feb. 11, Ethereum is also attempting to move up. The ETH/USD pair is likely to face resistance at $911 from the 20-day EMA and at $980 from the 50-day SMA. Above these levels, the price may move to the resistance line of the descending channel, at about $1,050 levels.
On the downside, $775 has strong support.
It doesnâ€™t provide good risk to reward ratio, so we are not suggesting a trade on it.
Source: cointelegraph Rakesh Upadhyay, image: trading view