Ethereum Price Analysis: ETH tests $3,150 resistance, a breakout to follow?

TL;DR Breakdown Ethereum price analysis is bullish today.ETH/USD continued to move higher overnight.ETH is likely to pause before breaking higher. Ethereum price analysis is bullish today as bulls pushed the market price to the $3,150 resistance after a strong rally yesterday. Therefore, we expect ETH/USD to break higher later today and finally set a new higher high. Cryptocurrency heat map. Source: Coin360 The overall market traded with a bullish momentum over the last 24 hours. Bitcoin is up by 1.6 percent, while Ethereum has gained 4.47 percent. Meanwhile, Solana (SOL) is the best performer today, with a gain of 10 percent. Ethereum price movement in the last 24 hours: Ethereum tests $3,150 previous high ETH/USD traded in a range of $2,976.34 – $3,163.67, indicating a substantial amount of volatility over the last 24 hours. Trading volume has declined by 13.33 percent and totals $18.85 billion, while the total market cap trades around $365.4 billion, resulting in the market dominance of 18.75 percent. ETH/USD 4-hour chart: ETH ready to set higher high? On the 4-hour chart, Ethereum price action can be seen to look for a breakout above the previous high of $3,150 as bulls have regained control. ETH/USD 4-hour chart. Source: TradingView The overall market continued to trade in a bearish momentum last week. After a new lower high was set around $3,650, ETH/USD dropped more than 25 percent until support was found aro...