Ethereum Technical Analysis: ETH/USD edges back south just below $500, but signs are still promising for the bulls

• Ethereum was seen down 1% on Wednesday, a slow down in momentum after the big run on Tuesday.
• ETH/USD has settled just below $500, within a previous area of resistance, supply zone. 

ETH/USD 60-minute chart

Spot rate:                   494.11.

Relative change:        -1.00%.

High:                          515.28.

Low:                           489.12.

Trend:                         Neutral/Bearish.

Resistance 1:             496.10, 8th July high.

Resistance 2:            500.25, (resistance on 60-minute chart).

Resistance 3:            515.28, today's (Wednesday) high.

Support 1:                 487.05, 50MA.

Support 2:                480.00, demand zone.

Support 3:                466.90, 100MA.