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Ethereum Rebounds, Eyeing $5,000 Milestone by November
19 Oct
Summary
- Ethereum (ETH) has rebounded over 15% from its two-month low
- ETH price could target $4,500 by late October if recovery momentum sustains
- MVRV bands indicate ETH remains in a "healthy correction" phase of its bull cycle
In the past two weeks, Ethereum's native token, Ether (ETH), has rebounded by more than 15% after plunging to a two-month low of $3,435. Multiple technical indicators now suggest ETH may extend its recovery toward $4,500 by the end of October.
Ethereum's rebound appears to be forming within a bull flag pattern, a structure that often signals the continuation of a prevailing uptrend following a brief consolidation. The latest bounce from the pattern's lower boundary near $3,500 coincides with support from the 200-day exponential moving average, a level that has historically attracted dip buyers during bull markets.
Furthermore, Ethereum's MVRV (Market Value to Realized Value) Extreme Deviation Pricing Bands show the recent pullback has been stabilizing near the mean band around $3,900, a level that has previously served as a springboard for new rallies. This structure suggests ETH remains in a "healthy correction" phase of its ongoing bull cycle, rather than signaling exhaustion. If the mean level continues to hold as support, a push toward the $4,500-$5,000 zone by late October appears statistically probable.
