This point is good for a nice jump? why ? feeling.
At this point intersecate the lower line of the with an important support of the last bull run. Moreover the first correction from 1423 -764 = 659 dollars would be of a similar magnitude of this second fall 1263 -576= 687.
So for me around 576 is now the best point to buy Ethereum .
Now: If it break the line and find support on the black line it s a very good sign
If it find support on the blue line we have to reevaluate the situation at each time. if it is rejected from the resistance a possible further downtrend is possible
MACD have to cross to confirm bullish reversal
we still see some bullishism coming. Let see where it find support. next red line is a very strong resistence . I would aspect a retracement there and then it will try to retest again