Ethereum is currently trading between $2,256 and $2,325. Bitcoin’s recent gains in April suggest a mismatch between supply and demand, which the financial markets haven’t yet fully accounted for.
The price of Ethereum is currently being supported, but it’s a fragile situation. A recent chart shows a small support level between $2,256 and $2,325. If this level holds, the price could potentially rise further. However, continued upward movement depends on maintaining that support.
More Crypto Online pointed out that Ethereum’s price movements are harder to read than Bitcoin’s. The phrase ‘less clear’ is particularly important here, suggesting significant uncertainty.
Two Assets, One Recovery, Very Different Stories
While it appeared positive, Bitcoin and Ethereum’s gains in April weren’t as strong as they seemed. Bitcoin rose from $68,219 to $76,306, an increase of about 11.85%, and briefly reached $79,500. Ethereum increased from $2,103 to $2,256, a gain of around 7.28%, but didn’t reach as high a price point, peaking near $2,466.
The difference wasn’t just size. It was structure.
Throughout April, the price of Bitcoin on Coinbase rose above its typical level, which is a positive sign. This is important because it suggests increased buying activity in the U.S., likely driven by institutional investors purchasing Bitcoin through ETFs. Interestingly, this happened while other exchanges were experiencing net outflows of Bitcoin, meaning the available supply was decreasing as demand increased.
ETH didn’t get that.
ETH Rose Because Sellers Left, Not Because Buyers Showed Up
According to CryptoQuant, Ethereum’s activity on Coinbase remained relatively quiet throughout April, with investors favoring Bitcoin instead. Ethereum’s price changes were mainly caused by how much of the cryptocurrency was moving onto and off of exchanges – essentially, changes in supply, rather than actual increases in demand.
Bitcoin was being bought. Ethereum stopped being sold quite as hard.
This is a significant difference. According to CryptoQuant’s analysis, the gains in April weren’t widespread across the entire crypto market – Bitcoin was the main driver. They believe this shows the start of money moving *into* Bitcoin, rather than confirming a general market recovery.
Markets used to move together. This one didn’t.
Where ETH Actually Stands on the Chart
Looking at the 1-hour chart from More Crypto Online, the price action suggests it could continue upward, potentially reaching $2,646. Key support levels to watch are $2,325 and $2,178. The Elliott Wave analysis also indicates a likely move higher, with a projected target between $2,560 and $2,646.
All of that requires the $2,256 to $2,325 band to hold.
Ethereum’s price has been fluctuating for weeks, and its current stability is delicate. A significant drop below its current support level could quickly change the short-term outlook. Data from CryptoQuant indicates that Ethereum isn’t experiencing the same level of buying interest that Bitcoin did in April. This means the next price movement will likely depend on whether sellers remain inactive.
It’s a reactive structure. Not an aggressive one.
Capital Is Getting Selective. Bitcoin Is the Proof.
CryptoQuant’s analysis in April highlighted an important possibility: if Ethereum starts seeing consistent buying pressure like Bitcoin, other cryptocurrencies might also gain traction. For now, Bitcoin remains the dominant player. The firm believes April signaled the start of a longer-term shift in the market, not just a temporary bounce.
Analysts are suggesting the next major crypto surge, expected in 2026, will see investors being more careful about where they put their money. Recent data from CryptoQuant supports this idea. It shows that Bitcoin experienced significant buying from institutions, while Ethereum did not. This difference in investment is clear and can be confirmed by looking at on-chain data.
The big question is whether it will fall further. Ethereum is currently trading at $2,368, with a small level of support just below that price.
Just so you know, this article is based on technical analysis and information from blockchain data. It’s not financial advice, so please do your own research before making any investment decisions.
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2026-05-05 16:54