Ethereum (ETH) has shown strong performance recently, sparking discussions in the market about whether it has already reached its peak. After thorough analysis, I believe that ETH has not fully hit the top yet, but it is quite close.

After a period of adjustment, ETH is still likely to rise to around $4960. This price level is likely to become the peak for the current phase, while the possibility of breaking through $5000 is relatively low.

It is worth noting that this round of price increase is mainly driven by Ethereum, which can be seen as ETH's "personal bull market". However, this singular dominance is difficult to sustain. In order to create upward opportunities for other cryptocurrencies (commonly known as "altcoins"), Ethereum must enter a consolidation period.

Currently, both Bitcoin and Ethereum have entered a stage where retail investors are reluctant to chase high prices easily. This means that mainstream cryptocurrencies are about to enter a necessary adjustment period.

In this market environment, investors should remain vigilant and closely monitor market trends. At the same time, this may also be a good time to pay attention to potential altcoin opportunities, as adjustments in mainstream coins often create space for the performance of other crypto assets.

Overall, while Ethereum's strong performance is impressive, the market will inevitably seek balance. The upcoming adjustment period may bring new opportunities and challenges to the entire cryptocurrency ecosystem.