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Analysis of the current price structure of ETH and directional judgment:
Taking ETH/USDT as an example, on July 31, it broke below 3731, indicating the end of the short-term upward trend and the beginning of a pullback. Positions from previous low-level long trades should exit, while opportunities for short trades at high points can be observed based on the short-cycle bearish turning point model. Important support levels for the bulls are 3628-3508; it is not recommended to chase shorts near the support level. If a bullish turning point model forms, consider going long at low points.