Ethereum, the world’s second largest cryptocurrency, has made a strong comeback after falling below $1,400. Now it’s back over $1,800 in height for three weeks, and is investors starting to ask what’s behind this sudden surge?
Let’s take a look at the main reasons.
Ethereum rises as short bets drop
One of the main reasons Ethereum prices have risen recently is that there are fewer traders betting on it. CME’s short positions fell to a minimum of less than $500 million in 2025.
Previously, traders were making money from the huge gap between Ethereum futures and their current prices. But when Trump’s tariffs eased and the market fell, the gap became smaller and trade profitability declined. This led traders to sell Ethereum, lowering prices.
Currently, Ethereum prices are beginning to recover as there are fewer traders and less sales pressure.
Ethereum ETF is seeing an influx in 8 days
Another big boost came from institutional investors. After more than a week of spills, Ethereum ETF ultimately saw a positive inflow of $38.8 million. The biggest contribution comes from a $32.7 million contribution from Fidelity Feth, with Bitwise Ethw adding $6.1 million.
This powerful influx shows a growing interest from investors. This could mean an increase in prices.
Bitcoin rally also lifts Ethereum
Don’t forget the impact of Bitcoin. BTC reached a seven-week high of $94,000. This has naturally sent a wave of positive energy throughout the Crypto market. With Bitcoin leading, Ethereum, the biggest altcoin, is also benefiting from this surge.
Ethereum faces little resistance to the future
According to IntotheBlock’s on-chain data, Ethereum doesn’t have many strong price hiatus in the future. The largest possible sales zone is around $1,860. This means that some people may start selling at that level. This could slow Ethereum rise.
ETH has added an impressive 12% to its market capitalization over the past 24 hours.
On-chain data shows that the largest potential sales wall is close to $1,860.
Once that zone gives way, it looks increasingly plausible as it returns to the psychological $2,000 level. pic.twitter.com/sjvkdudvjk
– Intotheblock (@intotheblock) April 23, 2025
But here’s the good news. If Ethereum breaks past this $1,860 level, it may not be much of a stopping it from getting even higher. And that’s when you can see a big target, $2,000.
However, if Ethereum cannot exceed $1,800, the price could drop again. The initial support level is around $1,765, with the stronger level close to $1,710.
