On April 23, 2023, Ethereum (ETH) demonstrated strong price performance, currently priced around $1700, up approximately 3.62% from the previous day. The 4-hour cycle candlestick chart shows a clear upward trend, while the daily chart indicates a strong rebound. The technical indicator MACD is in a bullish trend, and EMA has formed a golden cross. Over the past two weeks, the price of Ethereum has risen from an annual low of $1385 on April 6 to break through the $1750 mark on April 23, with a cumulative increase of 26.3% over the two weeks; the single-day highest increase exceeded 10%, and the price on April 23 closed at $1796.19, with a single-day increase of $219.44, a rise of up to 13.92%.

From a technical perspective, after Ethereum broke through $1600 on April 9, it consecutively pierced through the key resistance levels of $1688 and $1700. The daily MACD indicator formed a golden cross above the zero line, and the red three soldiers pattern confirmed a short-term bullish trend. The middle band of the Bollinger Bands on the weekly level (around $1720) was also strongly broken through. However, Ethereum is about to test the critical resistance level of $2330, with over 6.28 million ETH fluctuating between $2295 and $2350, forming a significant resistance area that may hinder further upward movement.