Support at 55EMA and 23.60% retrenchment has been occurred

If you see the ETH/USDT pair on daily time frame, you will observe the support at 55EMA and 23.60% retrenchment from last high.
Same support level has been observed on 9th Feb 2020.
Its a reversal sign but you need to observe this on smaller time frame like 1hr, You will find the channel which has resistance at 231 to 233 level.