Ethereum Rebounds: Surging Back After Hitting $1,400

Neglected, criticized, almost forgotten… Ethereum just reminded us that it hasn’t said its last word. Within two weeks, ETH surged by 30%, surpassing 1,800 dollars. Between a reversal pattern, the drop in fees, and renewed overall interest, the machine is back on track. How far will it go?

Ethereum rebounds strongly after a period of decline

After several weeks in the shadows, Ethereum (ETH) bounces back spectacularly, with a nearly 15% increase in 24 hours. On April 23, the price of ETH once again crossed the 1,800 dollar mark, after hitting a low of 1,400 dollars on April 9. This 30% rebound in two weeks therefore renews investors’ hope.

While the crypto market shows a total capitalization of 3 trillion dollars, Ethereum outperforms Bitcoin (+6%) and the entire market (+5%). Some analysts, like AshCrypto, even compare the current configuration of Ethereum to that of Bitcoin at the end of 2024, forecasting a possible price explosion.

Technical and fundamental catalysts aligned for ETH

According to Markus Thielen (10x Research), this rebound is related to a “short squeeze” on a strongly bearish market. He also points out that Ethereum was oversold on daily and weekly units, which favors a technical reversal. But this surge is not based solely on chart analysis.

The confirmation of Paul Atkins as head of the U.S. SEC has improved the overall climate, and an upcoming Ethereum network upgrade could also support the rise. Furthermore, transaction fees on Ethereum have dropped by 90% in one year, making the network much more attractive for users and decentralized application developers.

Ethereum at 3,360 dollars in May?

An inverted Head & Shoulders pattern, well known as a reversal figure, had anticipated Ethereum’s current rebound. This configuration, which forms after a consolidation phase, signals a trend change. In the case of Ethereum, the left shoulder, the lower head, and the right shoulder are clearly identifiable, with a neckline acting as a key resistance.

If the breakout is confirmed, ETH will have to cross several levels: first 2,160 dollars, then 2,858 dollars, a zone of strong selling pressure. The next major target could then be 3,360 dollars, a critical previous peak. With a 30% rise in two weeks, Ethereum could reach this target between mid-May and the end of May if the current pace holds. However, this scenario depends on breaking through key resistances and maintaining bullish momentum.

The strong comeback of Ethereum therefore marks a possible turning point in the current crypto market cycle. It remains to be seen whether this recovery will last or if it is a simple technical rebound, just days before the Pectra update.