ETH Price Surges 15% in 24 Hours: Can Ethereum Break the $1,900 Resistance?

With a 15% price increase over the past day, Ethereum (ETH) has rebounded, aiding the second-largest cryptocurrency in regaining crucial market dominance levels. After plunging below $1,400, ETH is currently trading above $1,800, which has traders feeling more optimistic. The ETH market is clearly showing signs of recovery alongside the recovery of the broader cryptocurrency market, with resistance levels in the Ethereum price now in view and a short squeeze driving the rise. Let’s examine what is behind this increase and what Ethereum’s future holds.

From Crash to Comeback: Ethereum Leads the Crypto Market Rebound

Ethereum has had an extremely amazing performance over the last 24 hours. The ETH price has increased by almost 15%, well above the 6% gain of Bitcoin and the 5% increase of the broader cryptocurrency market. This push has helped ETH reclaim the $1,800 level after bottoming out at $1,400 just two weeks ago. This represents an impressive 30% recovery since April 9, when Ethereum’s price had plummeted amid macro uncertainty and marketwide risk-off sentiment.

Chart 1 – BTC vs ETH performance and prediction, provided by Ash Crypto, published on TradingView, April 23, 2025

Crypto analyst “Income Sharks” pointed out on social platform X, “You can hate Ethereum all you want, but when it has a big day, the entire crypto ecosystem goes up.” His statement reflects the renewed sentiment across the ETH market and wider crypto community. According to “Ash Crypto,” ETH is “about to explode,” comparing Ethereum’s current trajectory to Bitcoin’s breakout late last year.

Oversold Conditions and Market Squeeze Fuel Ethereum Rally

Ethereum’s market dominance, which had hit an all-time low of 7% on April 22, has now recovered to above 7.5%. According to chart analyst Rekt Capital, ETH has successfully defended its September 2019 support levels, hinting at a potential macro reversal in dominance.

Chart 2 – Market cap ETH dominance, provided by Rekt Capital, published on TradingView, April 23, 2025

From a technical perspective, Ethereum was heavily oversold on both daily and weekly charts, setting the stage for a potential rebound. Markus Thielen of 10x Research noted that the recent surge was driven in part by a short squeeze, as traders rushed to cover bearish positions. On the fundamental side, Ethereum price resistance is now being tested amid a broader crypto market rally, bolstered by the confirmation of Paul Atkins as the new SEC chair. 

Despite BTSE COO Jeff Mei’s view that ETH is simply tracking Bitcoin, Ethereum price analysis reveals growing technical strength. With the total crypto market cap back above $3 trillion, ETH remains a key driver in the ongoing recovery.

ETH Faces Critical Resistance: Can ETH Break Price Resistance?

Looking ahead, the ETH price is now facing key resistance levels around $1,850 and $1,900. A confirmed breakout above these areas would open the path to $2,000 and beyond. Analysts believe that if Ethereum can maintain current volumes and sentiment, a broader move toward $2,500 could be initiated. With ETH market sentiment improving and dominance bouncing back, Ethereum could soon lead the next phase of the crypto market rally.

What’s Next: Ethereum’s Comeback Is Real – But Is It Sustainable?

Ethereum price analysis indicates that the increase above $1,800 might be more than a simple reflexive rebound. ETH is ready to regain ground when oversold conditions improve and market attitude changes. The crucial question still stands, though: can ETH break price resistance? Ethereum may once again take center stage in the larger crypto market comeback. This may be possible if bullish momentum continues and it breaks through significant resistance levels, solidifying its position as a catalyst for the subsequent leg of the bull run.