Can Ethereum price reclaim $4,500 in October?

Ethereum's price is showing signs of recovery, with a rebound from a significant support level potentially allowing it to reclaim the $4,500 mark by the end of October. Recent data indicates that Ether, after dropping to a two-month low of $3,435, has surged over 15%. Analysts observe a bull flag pattern, suggesting that if momentum continues, Ethereum could aim for a breakout toward the $4,450-$4,500 range. The recovery aligns with support from the 200-day exponential moving average, which has historically attracted buyers. Furthermore, MVRV data shows that the price is stabilizing, hinting at a healthy correction phase rather than exhaustion, with the potential to reach the $5,000 mark. However, if Ethereum drops below the support levels around $3,550, it could face deeper retracements. Analysts are optimistic about the upcoming weeks, with targets set for further rallies if the momentum sustains.

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