Ethereum (ETH) 4-hour candlestick chart is currently in the consolidation phase after an upward channel, forming a small flag consolidation range, which is a typical continuation pattern in an uptrend.

ETH is currently oscillating around 3785, close to the upper boundary of the flag. Once it breaks through this area, it is expected to continue the previous uptrend, challenging the previous high of 3934.

If it can break through the upper edge of the flag with increased volume, ETH is likely to hit the previous high of 3934 and the round number of 4000.