ETH might be ripe for a mid-October bounce now that it has been in a bearish pattern since the start of the month. This is not just an assumption but a convergence of multiple observations suggesting that the odds may favor the bulls. The Ethereum network’s native cryptocurrency recently came close to its five-month low ($1631). This affinity for downside has been encountering sell pressure near the aforementioned bottom range, followed by noteworthy consolidation and short-lived rallies. At least two were curtailed after previously crossing the $1745 price level, thus short-term resistance.