Ethereum bull eye for the $4,000 mark

Ethereum price broke and closed above the weekly resistance of $3,454 on Wednesday and rallied almost 3.5% in the next 4 days. At the time of writing on Monday, it hovers around $3,691.

If the $3,454 holds as support, ETH could rally to retest the psychologically important $4,000 level. 

The RSI indicator on the daily chart reads at 68, above its neutral level of 50, indicating that bullish momentum is gaining traction well below overbought conditions.

Conversely, if ETH declines and closes below the $3,454 level, it could face a pullback to retest the $3,335 support level. #ETHOnTheRise