On Thursday, April 23, 2026, Ethereum opened at $2,375.12, up 2% from Wednesday’s open as Bitcoin led morning gains and topped $78,000. $ETH The dollar fell to $2,316.88 by 7:10 a.m. ET as traders remained wary of the lack of progress in Iran peace talks and continued U.S. naval activity near the Strait of Hormuz.
Ethereum opened Thursday at $2,375.12 and quickly pulled back, settling around $2,316.88 by early morning as Bitcoin found it difficult to maintain gains above its own $78,000 mark. Yahoo Finance confirmed $ETH was up 2% from Wednesday’s open, but the reversal pattern was consistent with the cautious risk environment that has defined the market since the Iran ceasefire was extended without progress towards a formal peace deal.
Ethereum price rise in April 2026 tracks Bitcoin, but traders hold back
Thursday morning’s move came as Bitcoin posted its strongest opening since early February, with BTC briefly clearing $78,000 before clawing back gains as rising oil prices sparked fresh inflation concerns. As reported by crypto.news, $ETH Up nearly 5% to $2,402 on Wednesday, the Spot Ethereum ETF recorded nine consecutive days of net inflows totaling more than $530 million, with open interest exceeding $530 million. $ETH Futures have risen to $32.7 billion, with a bullish crossover forming between the 20-day and 50-day exponential moving averages on the daily chart. Thursday’s price action will be closely monitored to see if the momentum of institutional inflows can sustain the $2,300 level as a support floor, with $2,574 identified as the next key resistance level alongside the 50% Fibonacci retracement level.
Maintaining the geopolitical ceiling $ETH limited range
Ethereum’s broad pattern in April 2026 was one of a macro-driven sharp rally followed by a partial retracement, all within a narrow range supported by the Iran conflict. As documented by crypto.news, $ETH It soared more than 9% to a 10-week high of $2,393 on April 14, as truce diplomacy temporarily boosted risk sentiment and short-term liquidations of $123.5 million accelerated the move. This rally also stalled around the same $2,400 zone. $ETH is being tested again this week, reinforcing what is a key resistance ceiling that the asset has not been able to convincingly surpass since the war with Iran began in February. Iran shelled three ships near the Strait of Hormuz on April 22, and although the United States has extended the ceasefire indefinitely, the naval blockade remains in place, maintaining the geopolitical risk premium that has broadly limited cryptocurrencies and risk assets.
What could change the outlook for Ethereum?
A sustained close above $2,500 would be the first meaningful structural signal that Ethereum’s rally has transitioned from a macro rescue trade to a true trend. As tracked by crypto.news, $ETH The stock is holding on to a multi-year upward support trend line that connects the bear market lows dating back to 2019, testing April’s monthly low of $2,017 and holding there. The monthly MACD histogram turned positive at 129.89, marking the first constructive macro momentum signal since the fall from the $4,800 peak in late 2025. Ethereum’s Gramsterdam upgrade, expected in the first half of 2026, targets a significant increase in gas limits, parallel transaction execution, and reductions in layer 2 transaction costs, ultimately becoming a fundamental catalyst that could support the price independent of the macro environment.
$ETH remains about 53% below its August 2025 all-time high of $4,953.73, and traders are focused on whether a combination of institutional ETF inflows, growth in smart contract networks, and improved technology structures can create a sustainable recovery above the $2,500 resistance zone.
