Ethereum. Where are we standing?

Ethereum I think is one of the coins that have been over-sold in the recent correction phase. We are observing some decent amount of impulsiveness lately after correction. Are we done with a wave cycle? Or do we have few more pumps? Only God would know. But there definitely is a response action that can be deducted and prepared depending on how market tends to move, with right amount of risk management.
I believe we might actually have finished a wave cycle and we can expect some correction for the impulsive waves for past few days. This count becomes more validated if the price breaks the up-trendline (blue). However, with amount of recent bullish momentum, we might expect few more impulsive wave. I would say if we break $590 region we might expect price to reach up to $640. And if it does break, I believe it is going to come down roughly around $475~$500, not more than $470.

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