$ETH Ethereum is experiencing a significant upward movement today, Wednesday, April 23, 2025. Here's the latest:

**Current Price & Recent Performance:**

* Ethereum (ETH) is trading around **$1,780 - $1,816 USD**.

* It has surged by approximately **15%** in the last 24 hours.

* This strong recovery follows a period of lower prices and has helped its market dominance recover from recent lows.

**Factors Contributing to the Surge:**

* **Overall Crypto Market Recovery:** Ethereum's gains are partly attributed to a broader recovery in the cryptocurrency market, with Bitcoin also showing positive movement.

* **Short Squeeze:** Some analysts suggest that a "short squeeze" is contributing to the price increase, as many traders who had bet against Ethereum are now forced to buy back their positions, driving the price higher.

* **Technical Factors:** Ethereum was considered oversold on technical charts, making it ripe for a rebound. Bullish technical formations have also been observed.

* **Positive News:** Comments from US Treasury Secretary Scott Bessent about potential easing of US-China trade tensions may have boosted overall market sentiment.

* **ETF Inflows:** US-based spot Ethereum ETFs saw their largest daily inflows since early February, indicating renewed institutional interest.

* **Upcoming Upgrade:** The upcoming Pectra upgrade on May 7th, aimed at improving scalability and user experience, is also seen as a positive catalyst.

**Key Levels to Watch:**

* **Resistance:** The $1,800 mark is a key psychological resistance level. Breaking above this could lead to further gains, potentially towards $1,850 and $1,920, with the $2,000 level as a longer-term target.

* **Support:** The $1,688 level is seen as important support. Failure to hold above this could lead to renewed downward pressure.

**Market Sentiment:**

The current market sentiment around Ethereum is bullish, with many expecting further gains if the $1,800 resistance is broken.