Ethereum rallied ~73% from its February 6th low at $565 to its recent peak at $979 on February 18th:
ETH/USD (Daily)
Ethereum has pulled back ~16% in the last four days, finding support early yesterday morning near the $820 level which corresponds to the 38.2% Fibonacci retracement of the February 6th-February 18th rally.
Support at $820 now takes on greater importance, meanwhile, Ethereum has overhead resistance near $900 followed by MAJOR resistance between $970 and $1,000 which now not only represents long-term support/resistance but also the downtrend line drawn through the January peaks above $1420 and $1260. A breakout above $1,000 would offer a strong indication that a major low ($565) was put in place earlier this month, however, a breakdown below $820 would greatly increase the likelihood of the $565 low being retested over the coming weeks.
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