Ethereum Analyst Says 'October Is Often the Ignition' as ETH Price Reclaims $4K
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Ethereum's price has reclaimed the $4,200 mark, climbing 3.5% in 24 hours, with exchange reserves at their lowest since 2016. Analysts highlight three factors for this decline: self-custody, staking, and wallet transfers. DEX activity surged 47% to $33.9 billion, indicating potential price rallies. Historically, October has been bullish for ETH, averaging 4.77% gains, suggesting a possible rise to $4,300. Analysts draw parallels to 2020, anticipating a significant Q4 rally.
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