Ethereum Price Coils, Potential Breakout Towards $9K Looms

After years of sideways movement, Ethereum’s price has entered a consolidation phase. Analysts believe this period could soon end with a significant breakout towards $8,500 to $9,000. This prediction is based on the potential for a sharp price surge following prolonged stagnation. 24-hour trading volume of over $21.9 billion indicates healthy market activity. 2021 saw Ethereum stuck within a narrow range, with resistance at key trendlines. Experts believe this is part of a significant consolidation phase that could signal a breakout soon.