Even though it seems like ETH doesn't have that much of a % rise up as some other altcoins (400%-600% at most, while some others are waiting for a 1500-2000% gains), it can still be a good buying opportunity as it corrects, especially for a short sellers. We can still expect 400%-600% rise from expected correction point. As far as how deep this correction could go,... if it manages to brake beneath 0.786 fib. retr. level ($1135) it most likely won't brake beneath 0.618 level ($911), but even if it does, it won't be much deeper and should quickly bounce back up as BTC finishes its corrective move.
I am not a financial advisor so don't buy anything that a say. Wish you all successful investment. BITSTAMP:ETHUSD