ETH/USD Looks Neutral. What's Next?

The currency pair is still below the red midterm descending trend line meaning sellers still control the situation. However, bulls are trying to counter attack and to develop a correction at least. Will sellers’ Great Wall prevent bulls from going higher? ETH/USD has negative moods generally and this scenario seems to be impossible in short and mid term currently.
Let’s see what is happening within the Fibonacci retracement tool. The currency pair is testing the closest resistance area at $596.06. It has a correction on Thursday according to our expectations but buyers were unable to go higher stopped by the red midterm descending trend line. The possible scenarios for the currency pair are the following:
1. Green scenario (deeper bullish correction). The currency pair will cross the current resistance area at $596.06 and move higher towards the red descending trend line. If successful, buyers will be able to break through this trend line and to target the closest resistance area at $626.66, which coincides with 1.618 retracement level.
2. Red scenario (bearish). The currency pair will jump off the resistance area at $596.06 and move towards the closest support area at $566.90 coinciding with 2.618 retracement level. If they test this area successfully, sellers will be able to break it though targeting new local lows, established on Wednesday.
3. Orange scenario (neutral). The currency pair will follow the red scenario until the support area at $566.90 but instead of breaking it though, ETH/USD will jump off this horizontal line targeting the resistance area at $596.06.

Check the full crypto analysis HERE.