As many other cryptocurrencies, ETHUSD experienced significant fall as well. There are strong bearish bar on H4 ETHUSD chart and it getting close to previous structure low at 556. These sellers are going to lock their profits sometime soon and new buyers are going to step in as well. The best key area seems to be that structure low.
Moreover, the price forming Bat pattern, which provides exact guidance for entry and exit. It is getting close to entry point of 88% Fibonacci retracement and it could be a good opportunity to go long. T1- 38.2% T2 – 61.8%