ETH Momentum Improving

Ethereum is rising after hitting a low of $3752, fib 0.236 on December 20th. Ethereum has risen more than 8% since then. From the price above $4000, it’s better and healthier for Ethereum to range in this area for some time and gather momentum to break above the upper resistance of $4117. Ethereum ‘breaking the previous high’ is bullish. However, the RSI is already above 62, and gaining more volatility here can lead Ethereum to an Over-bought situation. The local support of $4000, fib 0.786 is very important to hold on to.