Ethereum Price Bull Flag Targets $4,500–$5,200 by October
Ethereum price has rebounded over 15% from a two-month low of $3,435 to around $3,950, forming a bullish flag pattern above its 200-day EMA and weekly bull market support band. Cointelegraph’s analysis shows Ethereum price poised to test resistance at $4,450–$4,500 by late October, with a breakout opening the way toward $5,200 in November. On-chain MVRV deviation bands—where ETH is holding above the mean near $3,900—historically signal advances to the +1σ band around $5,000. Analysts also highlight a double-bottom setup targeting $4,750, with potential for record highs above $5,200 if momentum continues. Conversely, a drop below the flag’s lower boundary and the 200-day EMA near $3,550 could invalidate the pattern and expose ETH to deeper corrections toward $3,000–$3,200. Traders should monitor these key levels for entry and exit signals as renewed upside momentum suggests a meaningful rebound.
Bullish
Both technical analysis and on-chain indicators point to renewed upside momentum for Ethereum. The formation of a bullish flag above the 200-day EMA and support bands suggests a consolidation ahead of further gains, targeting the $4,450–$4,500 resistance zone by late October and a potential extension to $5,200 in November. Historical MVRV patterns reinforce the prospect of rallies to the +1σ band near $5,000. The double-bottom setup adds confidence to mid-term bullish scenarios, while clear invalidation levels near $3,550 and $3,000–$3,200 help define risk. Consequently, this news is likely to boost trader confidence, promoting bullish positions in both the short and medium term, with the possibility of a longer-term uptrend if key breakouts occur.