$ETH

Today, April 23, 2025, Ethereum (ETH) has shown significant positive momentum. After a period of being in the doldrums, ETH has surged, outperforming Bitcoin and the broader cryptocurrency market. It has broken above the $1,700 and even $1,800 resistance levels, with its market dominance recovering from recent lows.

Technical analysis indicates a short-term bullish trend, with ETH trading along an upward trendline. The Relative Strength Index (RSI) shows positive signals, although it's approaching overbought conditions, suggesting a potential consolidation phase ahead. Key resistance levels to watch are around $1,800, which it is currently testing, and then potentially $1,900. Support levels are around $1,750 and $1,688.

Fundamentally, the price increase is supported by a decrease in CME futures basis and continued accumulation by whale investors despite some ETF outflows. Overall, the analysis suggests a positive outlook for Ethereum in the short term, contingent on maintaining momentum above key support levels