BlockBeats News, September 30th, Matrixport released its daily chart analysis, stating that Ethereum retreated to stabilize near the upper boundary of a multi-year ascending triangle before launching a rebound. The current trend has entered a key observation period, still needing to confirm whether it is another false breakout or the start of a new uptrend.
Looking back at previous false breakouts, the downward momentum has been limited: the price quickly rebounded afterward. The current trend also exhibits similar characteristics, and investors need to be aware of the possibility of a rapid rebound.
Overall, the technical rebound structure remains somewhat positive. However, some buying pressure may stem from end-of-month performance dressing or positioning ahead of October’s seasonal rally.
