Ethereum Price Surges Back to $4k: Confirmation Required

ETHUSD

remained below this crucial level throughout last week. However, after initially reversing upon touching 2850, Ethereum tested that level again and reversed once more on Friday, forming a prominent daily Pin Bar on our chart.

As of now

the price has returned to the resistance zone (the former support), and a break back above it would indicate a false breakout and the completion of the correction. I am bullish on Ethereum and am inclined to buy on dips. My target is a retest of the 4k mark.