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Analysis: Some market indicators suggest that ETH may continue its rebound momentum at $4,500.
ChainCatcher news, some market indicators show that Ethereum may continue its rebound momentum and reach $4,500 before the end of October. Currently, ETH seems to be forming a “bullish flag” pattern, which typically indicates that the upward trend will continue after a brief consolidation. In addition, the recent ETH price has mostly remained above the “Weekly Bull Market Support Band”, suggesting a potential breakout of the upper limit of the range, namely the $4,450-$4,500 area. If there is a breakout, it may 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.