Ethereum (ETH) Price: Analysts Say ETH Needs One Level to Unlock a Major Reversal

TLDR

• ETH is bouncing off multi-year support with a bullish MACD crossover, similar to a pattern that led to a 250% rally in 2025.
• Analyst Cryptorand says ETH needs to hold above $2,400 to confirm a bullish reversal.
• Ethereum’s apparent demand hit a 90-day high, rising to 24,111 ETH on April 14.
• Spot Ethereum ETFs recorded $160 million in net inflows over three consecutive days.
• The ETH/BTC ratio climbed to a three-month high of 0.0313, backed by record on-chain activity.

Ether (ETH) is currently trading near $2,325, up 4% over the past seven days. The price action is drawing attention from analysts who see similarities to a technical pattern that played out in mid-2025.

On the weekly chart, ETH is retesting an ascending trend line that has acted as support since 2022. At the same time, the moving average convergence divergence (MACD) indicator has printed a bullish crossover — the same setup that preceded a 250% price rally in 2025.

Analyst Cryptorand added that ETH would need to “cross the key $2,400 range” and consolidate above it to “trigger the bullish reversal.”

Analyst Ali Charts also highlighted the MACD setup, noting that the last three times the indicator printed a golden cross on Ethereum, the price surged 130%, 74%, and 98% respectively.

Demand and Institutional Interest Rising

Ethereum’s apparent demand metric, tracked by Capriole Investments, turned positive on April 8 and rose to a 90-day high of 24,111 ETH on April 14. This came as hopes around a potential US-Iran trade deal lifted broader investor sentiment.

CryptoQuant analyst Arab Chain noted that the ETH Coinbase Premium Index — which measures the price gap between Coinbase and Binance — rose to 0.055, its highest level since October 2025. He described this as reflecting “increased demand from institutional investors, particularly in the US market.”

Spot Ethereum ETFs recorded net inflows for three straight days, totaling $160 million. Global Ethereum ETPs also saw $196.5 million in inflows last week.

On-Chain Fundamentals

The ETH/BTC ratio rose to 0.0313 on Wednesday, a three-month high. New users on the Ethereum network surged 82% quarter-over-quarter in Q1 to 284,000, and total transactions hit a record 200.4 million — a 43% quarterly increase.

Stablecoin supply on Ethereum reached an all-time high of $180 billion. The network holds roughly 60% of the global stablecoin market.

Despite the positive signals, ETH remains more than 50% below its 52-week high of $4,831. Analysts say the ratio would need to reclaim 0.035 on a weekly close to confirm a durable recovery.

Santiment flagged that wallets holding 0.01 ETH or less dropped 1,791 ETH ($4.16M) in the past two days, with small retail traders appearing to treat the recent 17% pump since March 29 as a bull trap.

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