Ethereum is in a strong downtrend. It continues to trade inside the channel and below both the moving averages, which are falling sharply. The recovery attempt by the bulls failed at the $590 levels.
The final critical support on the downside is the March 18 lows of $452.32. Below this level, the ETH/USD pair can fall to $385.
The RSI is deeply oversold, which shows that the selling has been overdone. We anticipate another pullback attempt within the next few days. The first sign of strength will be when the bulls sustain above $600. Until then, the bears will continue to sell on rallies.