Several days ago I thought ETH would test $400. I thought it would give a little bit more support than it did, but nonetheless, it tested the $400 level. It will act as resistance at first, but since there wasn't much support found, I don't expect this to really be too much of a hurdle.

Now, I'm predicting ETH to see a nice rally and get up to the $555 level which is where support was on the last major support bounce in February. This level was also relevant on the last rally, so I can see a move up to it.

Daily RSI hit below 20, to the 17 range, which is basically the lowest we've ever seen it. I don't think the markets are strong enough to see a bounce here, rally and a new high (although I could be wrong). I think the market peaks have happened already, but we should see a very nice oversold bounce play out over the next couple weeks.

Stochastic RSI is now bullish looking and giving extra indication we are going to see upside. Stochastic RSI has been extremely low the last two weeks, so we will need to see some upside.

Peeking at the weekly, we are seeing plenty of signs as well that there's bull pressure waiting to pounce.

Happy trading!