ETH Sluggish Bounce

Unlike Bitcoin, Ethereum is slightly higher this morning but the rally is weak and a bearish divergence can be seen on the chart. Near term resistance of Ethereum above $3800 should cap prices as RSI already marks above 62 at the current price level. Considering this rise a minor pull back the price will start to resume the downtrend breaking the local support level of EMA 100 and 200. The first target for Ethereum below is at $3782, 0.5 fib with the second at $3723, 0.236 Fib. The final target for Ethereum that should act as primary support level at $3669, the December 13thlow.