Ethereum (ETHUSD) Retesting Weekly Chart Triangle Resistance
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 ERN21 - Ether Futures
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ERN212,344.28s+30.78+1.33%

Ethereum (ETHUSD) surged in the past week, and is suddenly within a week’s volatility of testing the September and 2021 high. Significantly, the much higher September low versus the July low dramatically increases the odds of a decisive break above triangle resistance (on the weekly chart) this week.  With what appears to be an imminent break above the psychologically key 4k whole figure level, a higher October low versus the September low is all but assured.  ETHUSD's correlation to BTCUSD (on a weekly chart) is at 0.94, near the upper end of its 5 year range.  Congratulations to readers alerted August 1st of the completion of the major June-July bottom, and to those who heeded the warning May 16th of the major top forming.  I am long as of earlier in September in the 3340-3800 range, and am expecting a 3700-4500 range for the balance of October.  The weekly and daily RSI, Stochastics and MACD are rallying or consolidating recent gains, with the daily Stochastics overbought.

Weekly/Daily (Liquid)

 

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