$ETH Watching the K-line directly drop down this trend, it is highly likely that it is not a top.

Whether it's BTC or ETH, in every round of bull market tops, there will be a high-level consolidation period for continuous selling, and high-level repeated inducements to buy, even creating a secondary new high to push market sentiment to the extreme FOMO, with most chips distributed at high levels and then liquidity withdrawn leading to a market decline. Like ETH in the past few days, which dropped directly from a high position, the market makers didn't have enough time to unload, so the top is not established.

Next, we will see if ETH's rebound can break through new highs. If it cannot break through new highs, or if it breaks through a new high and then drops back, and there is repeated oscillation at high levels for a period of time, that is when we need to consider whether it is a top.