Analysis: Some market indicators suggest ETH may continue its rebound toward $4,500

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

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

However, if ETH falls below the lower boundary of the "bullish flag pattern" at $3,550, it may face further pullback.