Ethereum has already broken through the high point of July 28 this morning, just a step away from the 4000 mark.

However, the volume-price signals remind us not to be overly optimistic:

Since August 3, the rising trading volume has been significantly lower than the rising trading volume in July, indicating a clear weakening of demand;

After breaking through the high point of July 28 today, it quickly retreated, further confirming the weakening of upward momentum.

The weakening demand reduces the probability of Ethereum continuing to rise.

There are mainly two possible scenarios for Ethereum's subsequent trend:

Scenario 1: Ethereum continues to rise and breaks through 4000, with a chance of reaching above 4200;

Scenario 2: Ethereum has already peaked in stages, and will decline next, with a certain possibility of forming a double top;

From the volume-price signals, the likelihood of Scenario 2 is somewhat greater.