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Analyst: ETH may pull back to the support level of $3350 in September, and rebound and hit new highs in October.
BlockBeats news, on September 2, according to Cointelegraph, analyst Johnny Woo stated: "ETH may initially look bearish, but if the trend develops as expected, this could be the biggest short positions trap I've ever seen." He added that the charts indicate ETH may form a head and shoulders pattern in September and then be broken during the pump in October. In this scenario, Ethereum could fall to about $3,350 support level in September, then rebound in October, and hit new all-time highs in November. A similar situation occurred in September 2021, when ETH fell 30% from $3,950 to $2,750, and then rebounded to an all-time high in November.