Analysis: Some market indicators suggest that ETH may continue its rebound momentum to $4500

ChainCatcher news, according to Cointelegraph, some market indicators suggest that Ethereum may continue its rebound and reach $4,500 by the end of October. Currently, ETH seems to be forming a "bullish flag," a pattern that typically indicates a continuation of the upward trend after a brief consolidation.

Additionally, the recent ETH price has mostly remained above the "Weekly Bull Market Support Band," indicating a potential breakout above the channel's upper limit, specifically the $4,450-$4,500 range. If a breakout occurs, it could reach $5,200 in November.

However, if ETH falls below the $3,550 price range, which is the "lower boundary of the bullish flag pattern," it may face further retracement.