Analysis: Ethereum Re-tests Key Support Once Again, Funds Possibly Positioning Themselves Ahead of October Seasonal Rally

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.