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Ethereum (ETHUSD) Consolidation

Ethereum (ETHUSD) spent the past week consolidating again near the 61.8% Fib retrace of the May-Jul Fall. Significantly, the ETHUSD remains vulnerable to falling further this week as part of a healthy correction from the September high, particularly with ETHUSD testing upchannel support (on the daily chart). Bulls are best prepared for a moderate probability of ETHUSD retesting before month end, the psychologically key 3k whole figure level. ETHUSD's correlation to BTCUSD (on a weekly chart) is suddenly back to 0.95 and nearing the upper end of its 5 year range. I am long as of earlier in September in the 3340-3400 range, and am targeting 3300-3600 for mid October. The weekly RSI, Stochastics and MACD are tiring, weighed by the still downsloping daily MACD.

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