It was a covenant crisis test to be solved by Abraham using the covenant. The test "was not a test requiring mute compliance to destroy the covenant as embodied in Isaac but was a covenant crisis test to be solved by Abraham embodying the covenant. In other words, God's purpose was to test Abraham's covenant identity by eliciting a compassionate response of integrated covenant revelations (Genesis 23:1-3; 12:7; 13:14-17, 15, 17, 18, 21:12-13). Had Abraham actualized all seven covenant lessons in his test response, it could have culminated in a covenant-driven intercession for Isaac at the altar site, a mediation appealing to God's character of justice and mercy (covenant lesson of Genesis 18). In that scenario, the discovery of God's provided ram was set up to be the climax of Abraham's test as the grace-filled test solution (God will provide) given as the anticipated answer to Abraham's prophetic mediation."
Excerpt from dissertation abstract, Arlyn Drew, "A Hermeneutic for the Aqedah Test: A Way beyond Jon Levenson's and Terence Fretheim's Models."