Ethereum made a small rally on Wednesday after the flip zone around $700 supported price to the upside.
Since there was almost no change since yesterday, the possible scenarios remain pretty much the same. If price falls down to the flip zone again, we can expect a new rally up to the resistance around $850. If price rallies from the current levels, we can expect the same resistance to hold price. If price breaks below the flip zone, the next support area is around $630.