Crypto News: Ethereum Bounces Back Strong — Could This Be the Start of a $4,000 ETH Mega Rally?

The Ethereum price is gradually rebounding from its lowest position since 2023 following a steep drop this week. The volatility of the global cryptocurrency market caused ETH to momentarily drop below $1,400. But it is now trading above $1,600 once more. Consequently, a critical support level was restored. The general mood of the Ethereum market is changing as analysts start to express optimistic forecasts. Some people think that ETH could be preparing for a huge rally and that the worst may be over.

Ethereum Price Holds the Line at $1,600: A Sign of Strength?

Ethereum price action has been volatile but resilient. Last week, it fell to $1,385, testing support levels not seen since 2018. However, the bounce was swift. Following President Trump’s temporary pause on new tariffs, the Ethereum price rallied by over 10%, touching the $1,600 level before pulling back slightly.

$ETH is getting closer to a breakout.

Global markets are gaining some strength, so expect Ethereum to hold the $1,550-$1,600 level.

For now, I'm hoping for a breakout above and close above $1,670 for a rally towards $2K. pic.twitter.com/qVsWLKK82n

— Ted (@TedPillows) April 15, 2025

Since then, ETH has stabilized in the $1,580–$1,680 range for the past four days, suggesting that buyers are stepping in. Analyst Ted Pillows emphasized that holding above $1,550 – $1,600 is crucial. It strengthens the likelihood of a breakout from its short-term downtrend. He believes that if ETH can break the $1,670 resistance, the next stop could be $2,000.

Analysts Spot a Breakout Brewing – Is $4,000 in Sight?

Merlijn The Trader has also weighed in, pointing to Ethereum’s position inside a two-month descending channel. According to him, ETH is approaching the upper boundary of this pattern. “All we need now is volume,” he wrote, adding that a breakout above $1,690 could ignite a run toward $2,700.

He also pointed out that Ethereum recently completed a double top pattern by hitting the $1,432 mark, which may indicate the bottom is already in. From his perspective, “The face-melting rally no one expects” could already be forming, potentially pushing ETH beyond $4,000 in the months ahead.

Meanwhile, analyst Rekt Capital drew attention to Ethereum Dominance (ETH.D), which has dropped to historical reversal zones. Currently hovering near 8%, this figure has only been this low once before in the past few years, right before ETH staged a dominant comeback. Increasing dominance could be a major tailwind not just for Ethereum, but for the entire altcoin market.

What Lies Ahead: A Pause or a Push?

Looking forward, macroeconomic stability and the overall sentiment of the cryptocurrency market will probably determine Ethereum’s path. ETH may emerge from its recent consolidation and revisit higher levels if global risk assets keep rising. With strong technical levels reclaimed and multiple bullish indicators flashing, the setup appears promising. Still, bulls will need to see confirmation in volume and momentum. The $1,670 – $1,700 resistance band remains a key zone to watch.

Final Words: Ethereum’s Rally Might Just Be Getting Started

Ethereum price may have weathered the worst of the storm. From holding historic support to flashing signs of breakout potential, the King of Altcoins seems poised for a major move. While short-term volatility could persist, the technical and on-chain setups point toward a bullish phase ahead. If volume and market sentiment align, the long-anticipated rally toward $2,700 and possibly even $4,000 might not be far off.

ETH Price Analysis: The ongoing strength in Ethereum price movements aligns with technical indicators suggesting a potential surge. With increasing investor confidence, ETH price analysis will continue to be crucial in forecasting future Ethereum price action.