#MarketRebound Ethereum saw a strong rebound on April 23, surging by 11.5% to reach $1,759.71, after closing at $1,577.45 the previous day. This sharp upward movement was largely fueled by growing macroeconomic optimism and a notable drop in the CME futures basis, which many interpret as a sign of renewed bullish sentiment among institutional investors.
From a technical standpoint, Ethereum is now approaching key resistance levels, with $1,800 being closely watched as a potential breakout point. If ETH successfully breaks past this threshold, it could signal a broader bullish trend. However, market forecasts remain split. While some analysts expect a short-term correction toward $1,645 due to overbought conditions, others believe momentum could carry the price higher in the coming days.
Despite the recent rally, Ethereum is still down approximately 45% compared to its price a year ago, highlighting the continued volatility in the cryptocurrency market. Investors are keeping a close eye on the charts, looking for confirmation of a sustained recovery or signs of another pullback. With sentiment shifting quickly, ETH’s next move could play a crucial role in shaping the broader altcoin market trend.