$ETH - **Short-term Strategy**:

- **Long Position**: If the price stabilizes above 1,695 (EMA7), consider taking a small long position, target 1,706→1,750 (stop loss 1,680).

- **Short Position**: When rebounding near 1,706, consider taking a short position, target 1,650 (stop loss 1,720).

- **Medium to Long-term Strategy**:

- **Holders**: Reduce positions to avoid risk, keep the base position to observe the effectiveness of the EMA(7) support.

- **Observers**: Wait for the price to clearly break above 1,706 or drop below 1,695 to act accordingly.

- **Risk Warning**:

- **Declining Volume Risk**: Continuous shrinkage in trading volume may accelerate trend reversal.

- **EMA(99) Pressure**: Long-term moving averages are pressing from a high position, limiting rebound space.

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### Summary

ETH/USDT **Short-term Pullback Testing Key Support**, technical analysis shows a tug-of-war between bulls and bears. In terms of operation:

- **Aggressive Traders**: Sell high and buy low within the range (1,695-1,706), with strict stop-loss.

- **Conservative Traders**: Wait until the price breaks above 1,706 or drops below 1,695 to follow up, avoiding left-side trading.

- **Core Logic**: The market is at a directional choice node, and one should be cautious of false breakouts and trend reversal risks.