โก๏ธ Are you ready $ETH to break towards $4,500? The bullish trend and on-chain data say yes!!
๐ $ETH bounced 15% from its recent lows, settling above $3,900
The "Bull Flag" pattern is clearly forming โ a descending channel after a strong rise, often preceding a new breakout
The bounce from support at $3,500 coincides with the 200-day exponential moving average, a historical buying zone
๐ MVRV data from Glassnode adds technical confidence
The average range around $3,900 was a launch point in previous cycles towards $5,000
The token is still in a "healthy correction phase", not in a state of exhaustion
๐ If $ETH holds support at $3,550โ$3,900
We might see a retest of the $4,500 level during October, and possibly a breakout towards $5,250 in November
However, breaking support could bring the price back towards $3,000โ$3,200
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