Ethereum is in the spotlight again after a substantial 15% rally pushed ETH’s price over $1,800 to snap weeks of sluggish trading. This bounce comes just as ETH’s market dominance hit a new low of 7%, the lowest since 2019. The move has sparked new optimism, with analysts pointing to a mix of short squeezes, oversold technicals, and growing excitement around Ethereum’s upcoming mainnet upgrade. While some see ETH price simply riding Bitcoin’s coattails, others believe this could start a more meaningful shift in Ethereum’s momentum and market leadership.
This sudden burst of strength has turned heads, but much of the Ethereum rally seems driven more by broad sentiment and macro headlines than a solo ETH push. As excitement cools, attention is shifting to how ETH price performs near technical ceilings like $1,820. We’ll zoom into the most recent price action and indicators from the last 24 hours to get a clearer picture of what’s next. The real clues lie in how ETH behaves now that the dust from the initial breakout is settling.
ETH Price Analysis of 23rd April, 2025
ETH price began April 22 in a calm, sideways drift between $1550 and $1590, marked by low volatility and indecisive momentum. Around 09:00 UTC, a shift began as ETH climbed into a rising channel, gaining support from RSI trending toward the 60s and MACD flipping bullish. At approximately 14:30 UTC, the ETH breakout above the critical $1665 level, which became its new Key Support level, reaffirmed its bullish intent. After that, it will end with a spike lower in price near $1685 by 15:00 UTC. After that, the price consolidated with $1680 and $1700 as a range; the RSI during this time briefly turned overbought, showing a hint of short-term exhaustion.
Chart 1, Analyzed by Alokkp0608, published on April 23rd, 2025.
From 21:00 UTC, Ethereum reignited its move upward. The real Ethereum rally kicked in around 21:45 UTC as ETH broke through $1700 with conviction, racing past $1725 in a smooth upward channel. Throughout this interval, RSI oscillated in the upper 60s to low 70s, suggesting sustained momentum but potential overheating. MACD stayed broadly supportive with repeated golden crosses, indicating continuous bullish sentiment. The price marched upward through the Asian session, approaching the $1770–$1785 zone. This gradual climb suggests measured accumulation rather than speculative frenzy, with buyers stepping in near minor pullbacks at $1745 and $1760.
ETH Price Forecast: What Is Next for Ethereum?
By April 23, early trading saw ETH cool under $1800, brushing up against the $1820 resistance band. While price structure remains constructive, indicators are mixed: RSI fell to the mid-50s and MACD flattened, suggesting potential indecision. A breakout above $1820 could unlock the next leg higher, targeting $1860. However, failure to break through might lead to a pullback toward $1745 or even $1720. Buyers remain active, but with momentum softening, the next move will hinge on whether Ethereum can muster another push or pause for a breather.
Ethereum at a Crossroads as Price Stalls Below Resistance
Ethereum’s recent momentum has slowed at a key decision point. With the $1820 resistance proving sticky, a fresh ETH breakout hasn’t yet arrived. RSI and MACD are softening, but the larger bullish structure remains intact. If bulls regroup, we could see another leg in the ongoing Ethereum rally. On the flip side, losing support levels could shift short-term sentiment. While excitement from the mainnet upgrade and ETH’s regained market share is still in play, everything hinges on how ETH price reacts in the coming sessions, and whether this was just a pop or the start of something bigger.
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