7.16｜$ETH After just experiencing a round of violent pump-and-rise,

it has also moved into high-level range consolidation.
The 1-hour MACD has a bearish crossover (death cross), indicating a short-term pullback is needed.
It is now clearly in a pullback-and-correction phase.
With MACD forming a death cross in the high zone ❌ turning downward,
the price is currently hovering around 1920,
testing the support strength of the 5-day moving average to find a floor.
The bigger picture is still bullish 📈, but this rally was a bit too fast,
and it needs time to digest the overhead trapped positions and the lower profit-taking orders.
In the short term, avoid chasing pumps. #ETH
Strategy 🔥 suggests “long on dips as the main approach, short on rallies as a secondary one”:
Focus on the 1880-1890 support zone; there’s no need to time it to the exact level.
If it retraces without breaking, you can enter a long to gamble on a second attempt at making a higher high;
if it rebounds and meets resistance near the previous high around 1940,
you can try a brief short to eat the pullback 🎯.
The core logic is to wait for the moving averages to catch up with the price and repair the overbought indicator.
In trading, you must set stop-losses to prevent getting caught in a wick/pin-prick market, and wait patiently until the direction is clear before adding positions.