Analysis: ETH may continue its rebound momentum and reach 4500 USD before the end of October.


According to Huoxun Finance, on October 19, Cointelegraph reported that some market indicators suggest that Ethereum may continue its rebound momentum and could reach $4,500 before the end of October. Currently, ETH seems to be forming a "bullish flag pattern", which typically indicates that after a brief consolidation, the upward trend will continue. Moreover, the recent ETH price has generally remained above the "Weekly Bull Market Support Band (", implying a potential breakout of the upper channel limit, specifically in the $4,450-$4,500 range. If a breakout occurs, it could reach $5,200 in November. However, if ETH falls below the "lower boundary of the bullish flag pattern" price range of $3,550, it may face further retracement.
ETH-1.05%
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