Ethereum Looks Bullish So Why Is This Analyst Still Betting on $1,000?

ETH trades in bullish cloud consolidation, but RSI hasn’t cleared April 1 highs. Analyst MooninPapa still targets $1,000 while stablecoin dominance stays messy.

Ethereum is trading inside the daily TBO cloud. That part looks fine. Three days above overhead resistance means that level is gone, confirmed. Still, something is off.

The RSI has not cleared its April 1st local high. That gap matters more than the price position right now. Because RSI was already deep in overbought territory back on March 16th, there is a real chance this current run tops out before momentum can build.

The $1,000 Target Nobody Wants to Talk About

As MooninPapa noted on X, ETH is holding inside the cloud in bullish consolidation, but RSI hasn’t broken the previous high. MooninPapa added plainly: “I still think we’re heading to $1,000.”

On the weekly chart, the picture doesn’t improve. A bullish RSI reset did appear the week of March 9th, and higher lows are forming. But MooninPapa doesn’t read that as a clean reversal. The $1,000 downside case stays intact.

The daily setup is deceptive. Bullish consolidation inside the cloud reads well on the surface. Without RSI breaking the April 1 high, the structure is incomplete.

Stablecoin Dominance Is Not Cooperating

Stablecoin dominance hasn’t printed a higher high. It has actually dropped below the March 25th pivot low. That’s not a breakdown, not yet. But it’s getting messy, and as MooninPapa put it on X: “I’m just biding my time and waiting.”

Others dominance took a hit over the weekend. BTC dominance spiked to 68% on the back of a Bitcoin pump. MooninPapa called it manipulation, the same pattern as before, a spike that quickly rolled over. Others dominance is now back in bearish consolidation.

TOTALES moved back inside the cloud too. Another sign the broader altcoin rotation picture remains unsettled.

Altcoins Flashing the Same Warning

Across the altcoin space, the pattern repeats. ALGO ran 55% on the 4-hour between Tuesday and Friday last week, printed a TBO breakout cluster, then RSI maxed at 90.64. Volume spiked April 3rd and has been falling since. That’s not organic buying. Short squeezes forced futures shorts to cover, pushing price up without real demand behind it.

RENDER sits at TBO resistance near $1.94 with strongly bullish on-balance volume and a higher local RSI high. The move is only around 10%, not the 50-60% seen elsewhere. AI narrative gives it some fundamental backing. It could still push higher.

Monad is showing hidden bearish divergence. Price prints higher highs toward the 0.5 fib level. RSI is not following. First high hit 79.26 on March 16th, then 73.98 on March 25th, now 72.24 on Sunday. That sequence is a problem for anyone chasing.

Volume Drying Up Is the Real Story

Hyperliquid confirmed a TBO closed long. Expected move: price tags the fast line, then drops. KuCoin 30-day volume sits at just 6.8 million. Volume that low doesn’t support sustained rallies.

Fetch is up 4% but on-balance volume’s moving average is flattening. RSI looks to be printing a lower high. Stacks confirmed a third TBO breakdown. If it doesn’t hold historical support, the next level sits at $0.0792, roughly 64% lower from current levels.

The theme across the board is consistent. Late breakouts, drying volume, short-squeeze pumps without the fundamentals to hold them up.

This article reflects technical analysis from the cited source only and is not financial or investment advice.

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