Incoming uptober? Why the Ethereum Table (ETH) of September could cheat everyone

The impulse of Ethereum (ETH) has stagnated, with the Token falling from its August record, $ 4,950 to less than $ 4,300. The decrease reflects the investors that change the approach to obtain profits after the recent rally, since the general feeling seems to have extended until September.

But ETH bearish configuration may not be what it seems, and merchants who fear that the September breakdown of Altcoin can regret it.

THE GREATER TRANP FOR THE BEAR

Ethereum can be on the edge of what some analysts call the “biggest bear trap” this month.

In his last publication on X, the merchant and analyst of Crypto Johnny Woo warned that Ether might seem bassist in September forming a head and shoulder pattern, which turns out to be a classic signal of inconvenient potential.

However, if it is invalidated, this configuration could turn the feeling in October, known in cryptographic circles such as “uptober”, which forces marginalized merchants to buy again at higher levels. These patterns -based reversions have occurred before, and now they have fed speculation about the next decisive movement of Ethereum.

Woo also highlighted the critical support zone for Ethereum, since he pointed out that the range of $ 3,800 to $ 4,100 is an area to see closely. According to the analyst, this level has become increasingly significant for merchants. If Altcoin manages to stay above this level, it could strengthen the bullish feeling, while a collapse could open the door for higher downward pressure.

Alcista configuration

Crypto Trader Hardy also expressed a strong bullish feeling in Ethereum, and tweeted that the asset looks “ready to vomit” with an imminent rupture ahead. He suggested that, according to its previous price action, Ethereum could offer a “double bomb” movement.

Meanwhile, another popular market observer, Axel Bitblaze, said the ETH configuration is prepared for another break. He highlighted a cup and handling together with two powerful pumps, each of the portrait before feeding more upwards. With the market now in Pause, Bitblaze believes that a third potential movement could be the most aggressive so far, possibly catapulting ETH over the $ 5,000 brand.