Consolidation. Still within the Channel Down. Short.

Ethereum has entered a consolidation phase (STOCH = 45.211, ADX = 56.322) within the 1D Channel Down (RSI = 33.307, MACD = -37.830, Highs/Lows = -4.2745, B/BP = -38.2860) after the aggressive drop since the start of the month. As seen on the chart, the deviating Lower Low trendline (blue dots) has provided ETHUSD with the necessary support to give a relief sideways neutral candle sequence on 4H (RSI = 46.388, Highs/Lows = 0.0000). We are still within our model and our tolerance levels (max Lower High = 357.60). Targets intact: TP1 = 198.34 (September 15, 2017 low) and TP2 = 176.16 (July 29, 2017 low).