BroadChain News, April 23, 22:46, according to NewsBTC, Ethereum (ETH) rose 3.6% on Wednesday, testing the key resistance zone of $2,400-$2,500 for the third time, currently hovering around $2,425. Since the market crash in early February, ETH has been oscillating in the $1,800-$2,450 range, with multiple failed attempts to break out. With the recent market recovery, ETH has rebounded 15% from its April low, marking the first time in three months it has stabilized in the upper half of the range. Analyst Crypto Rand noted that if ETH can consolidate above this area, it could trigger a significant bullish reversal. Daan Crypto Trades added that ETH is approaching the bull market band and the 200-week moving average ($2,450); a weekly close above this level could open up room to test the 200-week exponential moving average at $2,560.
However, bearish views also exist. Analyst Ted Pillows warned that despite the price surge, spot demand for ETH is "stagnant," and the recent rebound lacks stable spot accumulation support, potentially repeating the liquidity grab-style decline seen after the $3,400 area in January 2026. On the other hand, analyst Ali Martinez pointed out that ETH's SuperTrend indicator has turned bullish for the first time in over a year, suggesting the current downtrend may be ending. If ETH breaks above $2,385, it could open up the $2,900 area, which is the X-axis of a three-month ascending triangle; turning into support would confirm trend continuation.
On the macro level, Trader Tardigrade, based on a two-year ascending channel analysis, noted that ETH confirmed support at the channel's lower boundary during the recent pullback. If this level holds, based on the channel structure, the mid-2026 target is $6,000. Currently, ETH faces key resistance at $2,450, and whether it breaks through will determine the short-term direction, with the market closely watching for an effective breakout.