Ether's price surged by 10% on April 23, 2025, reaching $1,795 amidst rising optimism due to the easing of the US-China tariff war. The overall cryptocurrency market also saw gains, with Bitcoin rising to $94,000. Notably, over $109 million in short Ethereum positions were liquidated in the futures market, reinforcing bullish momentum. The increase in Ethereum's open interest and positive funding rates indicated heightened trading activity among derivatives traders. Analysts suggested Ethereum needs to maintain support above $1,600 to sustain the upward trend, aiming for resistance levels at $1,950 and $2,100. The asset has broken out of a previous tight trading range and is now above key moving averages, although its RSI suggests it may be overbought, potentially leading to a pullback near $1,500.

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