Ethereum (ETHUSD) Back to Near 50% Fib Retrace of May-Jul Fall

Ethereum (ETHUSD) saw a fairly sharp but healthy correction this past week, and is now testing upchannel support (on the daily chart) and the 50% Fib retrace of the May-Jul Fall. Significantly, although odds are decent for the ETHUSD to slide further this week to the psychologically key 3k whole figure level, the likelihood is fairly low for now that ETHUSD is at the beginning of a deeper slide similar to what was seen in May-June…

Ethereum (ETHUSD) Consolidating Near Key 4k Level

Ethereum (ETHUSD) is seeing some healthy consolidation after briefly breaking above the psychologically key 4k whole figure level Friday. Significantly, although odds are moderately high for a retest of the record high in September, the steepness of the rally extension since late July suggests a high likelihood for the mild profittaking that has just begun to last another week or so…

Ethereum (ETHUSD) Weekly MACD Positively Crossing

Ethereum (ETHUSD) has consolidated for a 2nd straight week just below the 61.8% Fib retrace of the May to July slide, digesting the massive rally off the Triple Bottom May/June/July low. Significantly, although ETHUSD is likely to retest its record high by year end, the steepness of the late July – August rally keeps the likelihood of retesting the key 4k level by October sometime to moderate…

Ethereum (ETHUSD) Reverses 50% of May-July Slide

Ethereum (ETHUSD) has rallied powerfully these past 2 and a half weeks, reversing half of the May to July slide, and is suddenly back above the psychologically key 3k whole figure level. Significantly, with ETHUSD back above the 38.2% Fib retrace of the March 2020 to May 2021 rally, the odds of healthy profittaking back to 3k sometime this week is high, with a deeper correction in August below 2.5k unlikely…