Ethereum Surges 25% After Reclaiming $1,500 Support

Ethereum (ETH) has demonstrated a bullish trajectory following a significant market structure break, indicating a potential long-term reversal. After enduring a prolonged period of downward pressure and failed breakout attempts, the second-largest cryptocurrency by market cap has reclaimed a crucial support zone. This development has led analysts to suggest that Ethereum's price could potentially reach $4,400 in the coming weeks.

According to technical analyst SwallowAcademy, a key break on the Ethereum weekly chart occurred just above the $1,500 support level. Earlier this month, ETH dipped to a low of $1,415, raising concerns about a deeper bearish trend. However, this drop was met with aggressive buying pressure as traders saw an opportunity to accumulate at what now appears to be a major inflection point. This buying pressure around the $1,500 level reversed the prevailing downtrend, creating a market structure break. This pattern indicates a shift from lower highs and lower lows to higher highs and higher lows, suggesting that buyers have successfully absorbed the selling pressure and flipped market sentiments.

As of April 30, 2025, the Ethereum price stands at $1,804.60, reflecting a modest increase of 0.32% over the past 24 hours. Technical analysis reveals that Ethereum is now moving towards the resistance zone, which aligns closely with its 50-week moving average. A sustained close above this barrier on the weekly timeframe could result in a bullish market structure and ignite further upside momentum. This type of move would officially transition Ethereum out of its corrective phase and into a new rally cycle. A close above $1,900 would also confirm Ethereum’s ability to withstand short-term retracements and build a base for higher targets. If the bulls maintain current momentum, a rally toward $2,300 and then $2,800 could happen.

On the daily timeframe, Ethereum's price action presents another bullish signal: a notable fair value gap (FVG) ranging between $1,900 and $2,800. These gaps indicate an area of inefficiency in the market, often filled before continuity. The zone also overlaps with a cluster of exponential moving averages (EMAs) that ETH has yet to retest since the downtrend began earlier this year. According to SwallowAcademy, filling in this FVG is essential for a smoother and more structured advance. It would also act as a technical confirmation of the ETH transition into a bullish cycle. If ETH continues its current momentum and reclaims the $1,900 mark, traders could expect this FVG to be filled over the coming weeks.

If the Ethereum price holds above $1,900, analysts have predicted a path toward a medium-term target of $2,800, coinciding with the top of the FVG. Beyond that, the momentum could hike toward $4,000, a key psychosocial level and technical milestone that aligns with Ethereum’s previous support during its last major rally. Should bulls maintain conviction and broader market sentiment remain supportive, SwallowAcademy’s prediction reveals a possible climb to $4,400. With extended projections even touching the mark of $4,900 under ideal conditions, these targets are increasingly plausible. If ETH maintains its upward structure and avoids slipping below the newly reclaimed $1,500 support zone.