Ethereum Remains Market Leader in Trading Volume Amid Consolidation Phase

Ethereum (ETH) is currently trading at $4,314, consolidating after reaching an all-time high recently. Key points include:

ETH's price action has narrowed, indicating profit-taking and trader caution.
Whale accumulation is ongoing, suggesting confidence in future price increases.
Supply on exchanges is decreasing, reducing selling pressure and supporting potential upward movement.
Despite recent volatility, ETH leads in trading volume compared to Bitcoin and altcoins, indicating strong market interest.
Short-term risks of correction persist, but fundamentals remain bullish.

Market activity has cooled off, with a decline in trading volume as investors secure profits or minimize losses. This slow phase follows a significant upward trend and reflects a more cautious trading environment. Analysts predict September could see sideways price movement, but renewed demand may lead to a rally.

Key technical levels include:

Resistance at $4,500.
Support around $3,850 from the 200-day moving average.
A breakout above $4,500 could boost bullish momentum; a drop below $4,200 may lead to deeper corrections.

Overall, Ethereum remains in a tight consolidation phase, awaiting a decisive catalyst for future movement.