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8.1 Morning Ether $ETH Trend Analysis & Thoughts
📉 Current dire situation
ETH plummeted to 3,709 USDT (-3.48%), with a 24-hour low of 3,616, completely breaking down!
📍 Key Location
Support level: 3,616 (today's low) → If it breaks, look at 3,500
Resistance level: 3,724 (MA10) → 3,776 (MA20 strong resistance)
💡 Operation Idea:
✅ If there is a rebound:
Reduce positions to 3,720-3,776 / close long positions, don't fantasize about a V-shaped reversal.
✅ If it continues to fall:
Break below 3,616 stop loss all longs
Consider bottom-fishing when a stop-loss signal appears near 3,500.
The ETH trend is weaker than BTC, it's better to miss out than to rush in to buy the dip.
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