Analysis: Ethereum faces key resistance at $4700, while Bitcoin's resistance at $127000 is significant

According to BlockBeats, on August 13th, Glassnode concluded that the price point of $4700 has become a key resistance that needs to be monitored based on the effective implementation of the+1 standard deviation level indicator of the price (which usually marks the beginning of selling pressure) to assess the current trend of Ethereum. A decisive breakthrough may indicate the beginning of a more speculative phase, but if emotions shift, it also increases the risk of a sharp reversal. This level has historical significance, serving as an upper limit 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 high investor enthusiasm and fragile market structure. For Bitcoin, glassnode evaluates the short-term holder (STH) cost base, which represents the average acquisition price of new market participants. This key pricing level has always marked the boundary between bullish and bearish local institutions. From the perspective of these pricing levels, the level of $127000 becomes a key level for monitoring the reaction of prices to further increases, and may be the first major resistance point that needs to be overcome. In addition, the decisive trend of breaking through $127000 may take into account the $144000 area, where the+2 σ band aligns with the main resistance zone and may trigger a sharp increase in seller pressure.