TLDR
- Ethereum rebounded 21% from recent lows of $1,380 following Trump’s tariff pause announcement
- ETH is currently trading at around $1,650 after failing to break the $1,700 barrier
- Ethereum’s price is trading below its realized price, which historically represents a rare accumulation opportunity
- Analyst Crypto Patel suggests ETH has entered Wyckoff Phase D, potentially signaling a path toward $3,700
- Key resistance levels to watch are $1,750-$1,810, while $1,574 serves as critical support
Ethereum has shown signs of recovery after bouncing more than 21% from its recent low of $1,380. The second-largest cryptocurrency by market cap is currently trading at around $1,650 after failing to break above the $1,700 level, which continues to serve as a significant barrier to upward momentum.
The recent price surge followed US President Donald Trump’s announcement of a 90-day pause on reciprocal tariffs for all countries except China, which now faces a 145% tariff. This news sparked optimism across global markets, leading to a broad recovery in risk assets.
ETH Price
Despite this relief rally, Ethereum remains caught in a consolidation pattern and still trades below critical technical levels. The asset’s inability to reclaim the $1,800–$2,000 range keeps the long-term trend in question, with analysts maintaining a cautious outlook.
A Once-in-a-Cycle Opportunity?
On-chain data reveals an interesting development: Ethereum is currently trading below its realized price—the average price at which all ETH in circulation last moved.
According to analyst Quinten Francois, this scenario has historically represented a high-probability accumulation zone, often appearing just once per market cycle.
Some experts suggest this could present a rare buying opportunity for contrarian investors willing to look beyond short-term volatility and macroeconomic uncertainty.
Ethereum has lost over 60% of its value since late December, sparking fears of a prolonged bear market. However, bulls are beginning to reappear, with ETH establishing strong support above $1,400.
The $1,574 level has emerged as a crucial support zone. Analyst Ali pointed out on April 12 that if buyers manage to keep ETH above this threshold, the next resistance sits around $1,810.
Technical Analysis and Future Projections
For bulls to regain control and initiate a stronger recovery, Ethereum must push above the $1,850 mark—a level aligned with the 4-hour 200-day moving average (MA) and exponential moving average (EMA). These indicators have acted as short-term resistance since ETH fell below the $2,000 mark in February.
If Ethereum fails to break above $1,750 in the coming days, downside risk increases. A rejection at current levels could trigger another selling wave, potentially pushing the price below the $1,500 support zone.
In a separate analysis, Crypto Patel noted that Ethereum might have entered Wyckoff Phase D—a stage often characterized by gradual and sustained upward momentum. According to Patel, if Ethereum holds the $1,500 support, it could enter Phase E, the breakout zone.
$ETH Just Bounced from the SPRING! ( Ethereum Wyckoff Analysis )
The accumulation phase isn't over — it's evolving.
If #Ethereum holds this $1500 support, we're entering PHASE E — the breakout zone.Next targets? $5,000/$7,000/$10,000
This is the calm before the #ETH storm.… pic.twitter.com/SPmIUWNdsh
— Crypto Patel (@CryptoPatel) April 12, 2025
Patel’s projection outlines aggressive upside targets of $5,000, $7,000, and even $10,000 if Ethereum follows the Wyckoff pattern. A key milestone will be the “Sign of Strength” at approximately $3,700.
On-chain metrics such as rising transaction volume, active addresses, and growing network participation show healthy activity beneath the surface. These signals suggest a market that remains active despite macroeconomic pressures.
Ethereum’s broader role in Web3 continues to strengthen its long-term case. As the backbone of decentralized finance, non-fungible tokens, and scaling innovations, the ecosystem surrounding ETH expands steadily.
The crypto market, particularly altcoins like Ethereum, has faced instability due to macroeconomic uncertainty and escalating global trade tensions. ETH’s recent price action reflects these broader market conditions.
Market sentiment remains fragile, and Ethereum is at a crucial juncture where a decisive move above resistance is needed to shift the outlook from bearish to neutral. The coming days will determine whether bulls can build on the current momentum and reclaim key resistance levels.
If bulls push past $1,810 with strong volume, the path toward higher targets may open up. For now, holding above $1,574 remains the first step in this new phase of potential recovery.
Ethereum’s current position below its realized price continues to attract attention from long-term investors who view this as a potential buying opportunity in the market cycle.
