Ethereum Bearish but Getting Support

Ethereum has plunged to support at $1547, which is past the inverse Fibonacci extension level of our Head and Shoulders pattern. We are getting a little bit of a bounce here but will face resistance at $1653. Another wave of bear momentum could break past $1547 into the next vacuum zone below to $1424. The Kovach OBV took a sharp dip registering the selloff, but appears to be gaining traction again.