$ETH Ethereum has experienced a notable resurgence in April 2025, with its price climbing above $1,930, marking a significant recovery from earlier lows. This upward momentum is attributed to a combination of technical factors and upcoming network developments.

A key driver is the anticipated Pectra upgrade, scheduled for April 30. This major update aims to enhance scalability and network performance, combining elements from the previously planned Prague and Electra upgrades. The impending upgrade has bolstered investor confidence, leading to increased accumulation by large holders, commonly referred to as "whales."

On the technical front, Ethereum's open interest has surged to $21.6 billion, reflecting heightened investor engagement and optimism. The cryptocurrency has established strong support around the $1,600 level, with analysts identifying critical resistance near $2,100. A decisive move above this threshold could pave the way for further gains.

Market forecasts for Ethereum remain bullish, with projections suggesting potential highs ranging from $4,200 to $6,000 by the end of the year. These expectations are fueled by continued institutional adoption, technological advancements, and the broader positive sentiment in the cryptocurrency market.