After a period of uncertainty, the price of Ethereum (trading against the US dollar, pair $ETH /USDT) showed a vigorous rebound on Tuesday, April 22. This advance allowed it to surpass the barrier of $1,676, a level that coincides with its 20-day exponential moving average (EMA), a technical indicator that many traders use to assess short-term trends.
With this first positive signal, buyers or 'bulls' will seek to consolidate this advantage during the day today, April 23. Their next target is to push the quote above $1,830, where the 50-day simple moving average (SMA) is located, another crucial technical reference but of medium term.
Now we have two possible scenarios:
Optimistic Scenario: If Ethereum manages to surpass and stay above $1,830, projections suggest that a considerable jump towards the level of $2,111 could occur. This area is seen as an important resistance, where sellers are expected to attempt to curb the rise.
Cautious Scenario: On the other hand, if the price of Ethereum reaches $2,111 but is strongly rejected, sharply retreating, it would indicate that selling pressure remains dominant at higher price levels.
The price action of Ethereum in the coming hours and days will be decisive. Overcoming the barrier of $1,830 is the first key step to confirm the continuation of the recovery.
