Ethereum prices climbed on Thursday, supported by growing optimism around potential ETF approvals and renewed buying interest as the cryptocurrency approaches a key technical resistance zone. The rally comes amid improving sentiment across the broader crypto market and increased institutional focus on digital asset products.
ETH traded near $3,250, up over 4% in the past 24 hours, as inflows into Ethereum-linked exchange-traded funds (ETFs) showed signs of strengthening. Recent filings and regulatory commentary have fueled speculation that ETH-based spot ETFs may gain approval in the coming months, sparking renewed demand from both retail and institutional investors.
Ethereum/TetherUS 1-D Chart as of April 24th, 2025 (Source: TradingView)
The bullish momentum has pushed Ethereum toward the upper boundary of its descending price channel, a level that has acted as strong resistance in recent weeks. A breakout above this range could pave the way for further gains, with technical analysts eyeing $3,400 as the next potential upside target if volume continues to rise.
Broader crypto market sentiment has also improved, with Bitcoin holding steady above $65,000 and altcoins following suit. The market-wide recovery has been aided by lower volatility and stabilizing macroeconomic conditions, including softer inflation data in the U.S. and rising investor appetite for risk assets.
Despite the positive momentum, analysts caution that regulatory uncertainty and macro headwinds remain key risks. Any delay in ETF approvals or sharp moves in traditional markets could trigger volatility and challenge Ethereum’s short-term rally.
For now, Ethereum remains in focus as bulls test critical resistance, and all eyes are on whether the price can sustain its current trajectory. A successful breakout could shift sentiment more decisively in favor of altcoins, especially as institutional narratives continue to shape crypto market flows.
