Ethereum Price Analysis: ETH consolidates above $3,900, ready to break higher?

TL;DR Breakdown Ethereum price analysis is bullish for today.ETH/USD formed a consolidation base overnight.Ethereum is likely to break new highs today. Ethereum price analysis is bullish for today as the market has consolidated over the last 24 hours and formed a consolidation base above $3,900. Therefore, we expect ETH/USD to break higher today and look to reach the next target at $4,200 next. Cryptocurrency heat map. Source: Coin360 The overall market traded in the green over the last 24 hours. The market leaders, Bitcoin and Ethereum, are up by 2.99 and 0.76 percent, respectively. Meanwhile, Solana (SOL) and Ripple (XRP) are among the best performers from the major altcoins, with a gain of 7-8 percent. Ethereum price movement in the last 24 hours: Ethereum consolidates above $3,900 ETH/USD traded in a range of $3,868.99 – $3,979.19, indicating a low amount of volatility over the last 24 hours. Trading volume has increased by 5.93 percent and totals $19.57 billion, while the total market capitalization trades around $462.56 billion. ETH/USD 4-hour chart: ETH ready to break $4,000 again? On the 4-hour chart, We can see the Ethereum price establishing a base to move higher above $3,900. ETH/USD 4-hour chart. Source: TradingView Ethereum price has seen strong performance again over the past week after a several-week consolidation below the $3,300 resistance during the middle of August. With several failed attempts to...