Welcome to ETH Updates. As we can see on the four-hour time frame, the price is moving above the local uptrend line.
Please see that price has moved up from the resistance at 0.786 FIB, when it positively tests this area, we could see another upward move to the resistance at $1353.
At this point, however, it is worth looking at the CHOP index, where we see depleted energy, while the RSI is very high, which may indicate a healthy price correction, to the levels of $1286, $1260 and even $1239.
Please see that price has moved up from the resistance at 0.786 FIB, when it positively tests this area, we could see another upward move to the resistance at $1353.
At this point, however, it is worth looking at the CHOP index, where we see depleted energy, while the RSI is very high, which may indicate a healthy price correction, to the levels of $1286, $1260 and even $1239.