7.4 Saturday ETH Midday Strategy

Driven by the lingering positive effects of the non-farm payroll data, Ethereum continues its rebound. However, as today is U.S. Independence Day, the U.S. stock market is closed all day, resulting in a significant contraction of overall market liquidity. Off-market incremental funds have stagnated, and the market has entered a phase of high-level narrow-range consolidation.
On the technical front, $1650 to $1620 is the core short-term support, and $1600 is the key level determining the strength of this rebound. Only by holding above it can the consolidation structure be maintained. Above, $1710 and $1750 face short-term resistance. The $1780-$1800 range has dense trapped positions, making it difficult to break through in one go under low trading volume. On the 4-hour chart, bullish momentum continues to weaken, and indicators are gradually entering the overbought zone. The willingness to take profits from short-term gains is rising, and a rally is prone to a technical pullback.
Trading suggestion: go short on a rebound to 1770-1800, target 1720, if broken see 1680, if not, go long.$BTC $ETH $SOL