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The resistance is identified as the 86.4 percent projection levels of an upward wave C from $3.72. Working together with the resistance is another one established by a falling trendline.
A break above $3.92 will open the way towards the range of $3.95-1/4 to $3.98-1/2, while a break below $3.86-1/4 could cause a loss to $3.83-1/2.
The break above $3.92 will at the same time confirm a bullish wedge, which suggests a target around $4.05.
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