The Ethereum (ETH) market has recently shown remarkable performance, seemingly breaking through a key descending channel. Technical Analysis indicates that if this breakout is confirmed, the next important target price for ETH could be $4500.

Currently, ETH is approaching its previous high of $4380. Market participants should closely monitor this level as there may be a pullback to the upper trend line. This pullback could provide investors with a relatively low-risk opportunity to go long. However, if ETH fails to hold and falls back within the descending channel, investors should consider timely stop-losses to manage risk.

It is worth noting that the market may face significant uncertainty tonight, mainly because Federal Reserve Chairman Powell will speak at 10 PM. Nevertheless, considering that the cryptocurrency market has already undergone a certain degree of adjustment, Powell's speech, even if it contains some unfavorable factors, may not trigger a large-scale sell-off. On the contrary, the market may even experience a "bad news fully priced in" situation, paving the way for a subsequent rebound.

Based on the current market situation, some traders may choose to set buy orders at relatively low price levels in hopes of capturing entry opportunities that may arise from a potential short-term panic sell-off. However, regardless of the trading strategy employed, investors should act cautiously, manage risks appropriately, and always pay attention to market trends.

As the market continues to evolve, the trend of ETH will provide important guidance for the entire cryptocurrency industry. Investors should remain vigilant and be prepared to respond to sudden market changes.