Tonight, the global financial markets will welcome an important moment, with the most noteworthy being the speech to be delivered by the Fed chairman at 10 PM. This speech could have a significant impact on the direction of macroeconomic policy, subsequently triggering dramatic shifts in global capital flows.

If the Fed signals a tightening stance, the market may face pressure in the short term. Investors may shift funds to more conservative assets, leading to a correction in the cryptocurrency market. Ethereum may test the support level of $4214 and could potentially dive further. Bitcoin, on the other hand, needs to pay attention to the movement around $110,800.

On the contrary, if the Fed's stance leans towards easing or maintaining the status quo, Ethereum is expected to break through $4,430, and even challenge the psychological level of $4,500. Bitcoin may attempt to break the $120,000 mark again. The entire cryptocurrency market may welcome a wave of bullish momentum.

It is worth noting that historical data shows that during the central bank annual meeting, the volatility of Ethereum often exceeds plus or minus 5%. Therefore, market fluctuations tonight may intensify, and investors need to remain vigilant.

Regardless of the market direction, the development of the cryptocurrency sector is always full of opportunities and challenges. Investors should closely monitor market trends, while also paying attention to risk management, and be well-prepared to cope with possible drastic fluctuations.