ETH $4700 is a key resistance, and BTC may face a test of $127,000.

On August 13, according to the data platform, the current Ethereum trend is concluded by effectively implementing the price +1 standard deviation level indicator (which usually marks the point where dumping pressure begins to increase): the price point of $4700 has become a key resistance that needs to be monitored. A decisive breakthrough may indicate the beginning of a more speculative phase, but if sentiment shifts, it could also increase the risk of a sharp reversal.

This level is historically significant, serving as a ceiling during the rebound in March 2024 and acting as resistance multiple times during the 2020-21 bull market cycle. In the past, when Ethereum broke through this range, it was usually accompanied by heightened investor enthusiasm and a fragile market structure.

For Bitcoin, this data platform assesses the cost basis of short-term holders (STH), representing the average acquisition price of new market participants. This key pricing level has historically marked the boundary between bullish and bearish local regimes.

From the perspective of these pricing levels, the $127,000 level has become a key level for monitoring the price reaction when it rises further, and it may be the first significant resistance point that needs to be overcome. Additionally, a decisive move above $127,000 could bring the $144,000 region into consideration, where the +2σ band aligns with the major resistance area and may trigger a sharp increase in selling pressure.