ETH/USD Still Bearish. What's Next???

ETH/USD has lost over eight percent in the past 24 hours. It is still below the descending trend line meaning bears dominate the market. There is even not a single sign for future reverse as the price is unable to cross this midterm trend line.
Let’s have a closer look at what is happening on the Hourly chart within the Fibo retracement. The price jumped off 3.618 retracement level several hours ago and seems to start a bullish correction now. ETH/USD followed Orange scenario and reached $596.08 resistance area. However, later the price declined towards the support area at $566.90.
The possible scenarios for ETH/USD are the following:
1. Red scenario (bearish). The currency pair will go towards 3.618 retracement level and break it through.
2. Orange scenario (neutral). Ethereum will go towards the descending trend line and the closest resistance area at $566.90. Once this area reached, ETH/USD will reverse downwards.
3. Green scenario (bullish correction). The currency pair will reach 2.618 retracement level and red descending trend line, break the through and go higher aiming at the closest resistance area at $596.08.
Neutral scenario has better chances to develop.

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