On April 23, 2025, Ethereum (ETH) exhibited strong growth momentum, becoming the focus of the cryptocurrency market

Price Trend Analysis

In the past month, Ethereum has experienced significant price fluctuations. From March 23, 2025, to April 23, 2025, the ETH price peaked at $1,953.57 (on April 2) and fell to a low of $1,388.12 (on April 9). During this period, ETH saw several large fluctuations, such as the jump from $1,473.05 to $1,669.74 on April 9, with a single-day increase of 13.33%; on April 22, it surged from $1,578.44 to $1,756.11, an increase of 11.18%. These fluctuations indicate that Ethereum is continuously rebounding under technical pressure, forming a short to medium-term 'V-shaped reversal' pattern.

Technical Patterns and Market Background

From a technical perspective, Ethereum's moving averages indicate that the price has regained the 10-day and 20-day moving averages, showing a golden cross pattern with further upward momentum. The short-term support level is at $1,745 (the lowest price on April 23); if this is broken or retested in the $1,700 range, it may face correction pressure. The upper resistance level is initially at $1,800, and after breaking through, the next technical resistance level is in the $1,925-$1,950 range, close to the early month high.

In terms of market background, the recent signals from the U.S. Federal Reserve meeting indicate expectations for interest rate cuts, leading to a weaker dollar index and prompting funds to flow into high-risk asset markets, including cryptocurrencies. Additionally, the staking ratio of Ethereum has reached a new high, exceeding 20%, reducing circulating chips and creating a new logic for supply and demand balance. The Layer 2 ecosystem (such as Arbitrum, Optimism) is flourishing, continuously increasing the actual usage demand for the main chain ETH, further supporting the rise in Ethereum's price.

Market Outlook

Looking ahead, Ethereum faces a situation of both opportunities and risks. If Ethereum stabilizes above $1,800, it may challenge the early month high of $1,925; if it breaks through successfully, it will aim for the psychological threshold of $2,000. However, if global liquidity tightens or U.S. Treasury yields rise again, the cryptocurrency market may face a phase of correction.