Ethereum price breakout, With about $23 billion in Ethereum (ETH) exchanged, trading volumes on April 22 and 23 increased. ETH rising above its 21-day exponential moving average (EMA) also marked fresh market optimism.
President Donald Trump’s decision to relax his application of harsh tariffs on imported products served as one impetus for this change of direction. This change in macroeconomic policy gave ETH, among other risk assets, a brief increase. Technical clues, nevertheless, also point to a bigger story developing.
ETH Rally Gains Momentum
Once momentum indicators leave extreme oversold conditions, ETH historically often rallies powerfully. That occurred earlier this month when the Relative Strength Index (RSI) broke out of its lower range, opening the path for a possible long-term rally. Previous studies indicated that ETH would settle between $1,500 and $1,700 for several months. Still, the recent breakthrough represents one of the biggest positive signals since November and might have reduced that timeframe.
Meanwhile, on-chain foundations continue to strengthen. Reflecting growing investor confidence despite more general market volatility, Ethereum’s network stablecoin balance increased from $111 billion to $124 billion this year. With trade volumes rising from $9.7 billion to $12 billion over the past week, distributed exchanges (DEXs) also observed a surge in activity. The latest breakthrough is fueled in part by this increase in on-chain activity, which often corresponds with ETH’s temporary price spike.
ETH Near Breakout, Eyes $2,100
With a short-term target of $1,900, current price activity suggests that the Ethereum price breakout is almost reaching the top end of its recent consolidation zone. Based on volume profile research, however, notable selling pressure still exists around $1,800, a value level with strong activity from both bulls and bears.
Should bulls successfully push ETH above $1,900 and maintain momentum, the next most likely action would be toward $2,100, entering a low-volume zone that would enable a quick price increase with minimal opposition. Historically, these areas have shown great support for continuous rallies.
Market Pauses as Optimism Builds
Although price momentum has slowed somewhat, indicated by a declining MACD histogram and a flattening RSI, market sentiment is improving. In just two weeks, the Fear and Greed Index surged from a low of 15 to 53, indicating that investor confidence is returning, despite still-existing economic challenges.
Technically, the region between $1,780 and $1,900 is among the hottestly contested this year. The largest recorded trading volume thus indicates a heated fight between bulls and bears. Consolidation may linger before the next breakout, even as bulls take the stage.
Target $3,000 and ETH Break $2,000?
A clean break above $2,000 would reaffirm the positive trend and pave the way for a more substantial climb toward $3,000. This level marks a significant psychological turning point, and, given the prevailing macroeconomic conditions and momentum, it might signal the start of a sustained upward cycle.
From below, ETH may yet retest its prior trend line support before it completely releases the negative pressure shown since December. As long as they can take and maintain $1,900, the bulls are well-positioned—improving mood, rising on-chain measures, and significant historical tailwinds.
