ETHUSD chart overview

The price of Ethereum is retreating today from yesterday's high of $1595. Today's low price of Ethereum is $1537 level. For a bearish option, we need a continuation of this negative consolidation and a further pullback to lower support levels. Very important support is at the $1500 level, and if a drop below occurs, the price could go deeper. Potential lower targets are $1450 and $1400 levels. The $1400 level is very important for further determining the future trend. For a bullish option, we need a positive consolidation and a return to the $1600 level for a new test. Then we need a breakout above and try to hold up there. After that, we need a new impulse that would move the price to the next higher level. Potential higher targets are $1650 and $1500 levels.