Analysis: Some market indicators show that ETH may continue its rebound momentum at $4,500

ChainCatcher news indicates that some market indicators show 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 trend that typically signals 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," suggesting a potential breakout above the upper channel 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 "lower boundary" price range of the bullish flag pattern at $3,550, it may face further retracement.