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Analysis of the ETH morning thoughts on the 8.1
Observing the 1-hour chart, the current bearish trend is relatively strong, with prices having fallen near the lower Bollinger Band. The death cross signal of the MACD indicator is still ongoing and widening, while the TD indicator shows that the oversold condition is still present, indicating that the market is still dominated by bears. If the support level at 3590 is lost, the market may continue to decline, so potential rebound correction signals need to be monitored.
It is recommended to buy on dips around 3650-3620, with a target of 3730-3850. If it breaks through, continue to look upwards.