ETH/USD Returns to Downtrend. What's Next???

Ethereum followed the other allies and went downwards on Monday after weekend’s rally, which was a part of an upside correction to the midterm downtrend. ETH/USD has lost more than two percent in the past 24 hours and is able to develop this negative tendency in the nearest future. If the upside correction is done, ETH/USD will likely to develop its downside progress.
Let’s have a closer look at what is happening on the Hourly chart. ETH/USD has reached $626.66 resistance area during the weekend but was unable to cross it. The currency pair has started a short term downside correction on Monday, which looks like the downtrend in the moment of writing as ETH/USD has broken through the green ascending trend line. Ethereum was stopped at $566.90 support area, which coincides with 2.618 retracement level. What are the possible ways for ETH/USD?
1. Red scenario (bearish). The currency pair will break through $566.90 and move lower targeting $540.69 support area.
2. Orange scenario (neutral). ETH/USD will test the closest resistance area at $596.08 and jump off it targeting the closest support area at $566.90. The currency pair will stay within this range with no significant fluctuations.
3. Green scenario (bullish). Ethereum will break through the resistance area at $596.08 and move higher targeting the next resistance area at $626.66, which coincides with 1.618 retracement level.

Check the full crypto analysis HERE>>>.