Ethereum (ETH) had an impressive price performance yesterday, surging to around $4888 after Federal Reserve Chairman Powell's speech, nearly reaching its all-time high. This strong trend has encouraged market participants, but it has also raised some cautious voices.

Currently, the price of ETH is in a short-term adjustment and consolidation phase, which is a normal phenomenon after a significant rise. On the daily chart, the midline is forming an important support level. However, we cannot yet determine whether this means the price is about to peak or if a real breakout is imminent. Considering the common occurrence of false breakouts in the market, it is recommended that investors adopt a wait-and-see attitude for the time being and avoid entering the market rashly.

Despite the long-term outlook still being optimistic about the possibility of ETH breaking through higher price levels, there is currently a lack of significant weekly pullbacks. Therefore, even if the price continues to rise, it is very likely to retrace near historical highs at some point in the future. At that time, better entry opportunities may arise.

In this market environment, maintaining patience and calmness may be the wisest strategy. For investors intending to participate in ETH trading, closely monitoring market trends and waiting for clearer signals to emerge may be the best course of action at present. Remember, in the highly volatile cryptocurrency market, caution and patience are often the most valuable virtues.