$ETH Analysis
TARGET 1990
**NEVER ENTER WITHOU BREAKOUT**
1 HOUR TIMEFRAME
The pivot point of 1827 is a neutral level. The RSI is above its neutrality area at 50, which indicates that the bulls are in control. The MACD is negative and above its signal line, which is also bullish. However, the MACD must break above its zero level to trigger further gains. The price is above its 20 period moving average but below its 50 period moving average. This suggests that the market is consolidating and could be ready to break out either to the upside or to the downside.
The analyst's preference is for a rebound, but there is also a risk of a breakdown below 1827. If the price breaks below 1827, the next support levels are 1802 and 1788. If the price breaks above 1827, the next resistance levels are 1919, 1905, and 1890.
Overall, the technical indicators are mixed. The RSI and MACD are bullish, but the price is still below its 50 period moving average. The analyst's preference is for a rebound, but there is also a risk of a breakdown below 1827. Traders should monitor the price action closely and be prepared to take action accordingly.
