Ether recovers above $4000

The noted double top in Ethereum, set last week on the daily charts was really quite stark. The price spiked to as high as $4372.36 last Thursday, but it did not surpass the previous record high at 4379. The drop back from that failure was noted here at the time and it clearly defined what can only be described as a potential monster double top on the long term charts. The drop back below 4000 on Friday saw it fall to as low as 3,890. It did rebound back above 4000, and close to 4,200 on Saturday, only to slip back with Bitcoin yesterday afternoon. Ether fell back to as low as 3962, but it has rebounded with BTC again today, rising to as high as 4154 not that long ago. Now the thing is, all the while it cannot get above 4379 there is a risk that this major double top, currently in place will define the onset of a greater correction that is yet to unfold. The range seen so far today has been covered by 4061 to 4154. ETHUSD currently trading at 4118