The cryptocurrency market has been experiencing significant fluctuations recently, particularly the trends of Ethereum and Bitcoin that have drawn attention.

In terms of Ethereum, there was a noticeable upward trend in mid-August. Around August 11, the market presented an ideal buying opportunity, with the price of Ethereum near $4170. In the following days, this assessment was confirmed to be correct, as the price of Ethereum indeed saw a significant increase.

However, this wave of increase is not endless. By August 14th, various technical indicators suggested that Ethereum may be approaching a short-term peak. Specifically, this judgment was further confirmed when the price fell below $4606.4, and a death cross appeared on the 6-hour and 4-hour charts.

The trend of Bitcoin is similar to that of Ether. Around August 14, Bitcoin may have also ended its upward phase. It is worth noting that this means the entire rebound that started from $74508 for Bitcoin and $1385 for Ether may have come to an end.

Looking ahead, unless there are unexpected major positive news, it is unlikely that Bitcoin and Ethereum will reach new highs before September. Given the current market situation, the probability of breaking new highs is quite low, less than 5%.

The speech by Federal Reserve Chairman Powell on August 22 may impact the market, and investors should closely monitor the potential effects of this event on cryptocurrency prices.

Overall, the current cryptocurrency market seems to be in a consolidation phase. Investors should exercise caution when making decisions, fully consider market risks, and closely monitor various technical indicators and macroeconomic factors.