A few months ago, $1,000 for 1 ETH is considered a good price entry. Now, $1,600 seems a bit too much, in my opinion. Maybe the PoS hype is already 'priced in' for ETH. Any investments around that price range are very risky. The best course of action: DCA in 25% of your fund to this price but no more.
It was even $900 IIRC. Well, the price is lower now as the market stumbles again and we're now having $1400-$1500 for Ethereum.
So as this price, investors that are preparing for the transition could see it way cheaper than it was before and then a push to its price before the actual transition happens.
Wait and see if it goes down, DCA in more. If not, just stay with 25% of your fund @$1,600.
Much better to just DCA, relieving that stress of thinking if it's good to buy or not.