ETH breaks through a critical bullish-bearish dividing line! 2300 becomes the bulls' lifeline, with the next target possibly directly aiming for 2600?

As of April 23rd, Ethereum (ETH) is currently quoted at 2345 USDT. From the overall candlestick structure, Ethereum has completed the bottom formation at the $1736 stage and is gradually moving out of the trend recovery phase. Currently, the price is repeatedly oscillating and consolidating above 2300, which is the area where the bulls and bears are fighting most intensely.

From a technical perspective, ETH is in a critical breakout stage of the medium-term upward trend. If the bulls can stabilize within the current range, the market is likely to enter an accelerated upward cycle.

Next, we will conduct a comprehensive technical analysis from the daily, 4-hour, and 1-hour timeframes.

1. Daily Chart Analysis: Trend Reversal Confirmed

From the daily structure, this round of ETH movement has experienced three stages: deep correction → sideways bottoming → oscillating upward.

First Stage: Deep Correction

ETH previously started a correction above $3000, with a brief dip to $1736.

This level formed a clear long lower shadow candlestick, indicating strong institutional support in this area.

The $1730–$1800 zone has formed a temporary bottom support.

Second Stage: Bottom Oscillation and Accumulation

In the $1800–$2100 range, ETH has been consolidating for a prolonged period.

Key features of this stage:

Multiple tests of the $1800 support without breaking

Gradual elevation of highs

Decreasing trading volume

This is a very standard accumulation structure by major players.

Third Stage: Trend Recovery and Upward Movement

Since April, ETH has begun to show a clear pattern of higher lows:

Low points:

1950

2050

2150

2250

The rising lows indicate that the bullish trend has gradually been established.

Currently, the price is approaching the key resistance zone of 2300–2400.

If the 2400 level is effectively broken, ETH is very likely to initiate a new trend upward rally.

2. 4-Hour Chart Analysis: Running in an Upward Channel

From the 4-hour candlestick structure, ETH is currently within a clear upward channel.

The market movement rhythm is very standard:

Up → Correction → Up again

Low point structure:

2000

2100

2200

2280

High point structure:

2200

2300

2400

This indicates that the trend structure is healthy, and the bulls still hold the initiative.

Moving average structure:

Currently, the 4-hour moving averages show:

MA20 trending upward

MA60 trending upward

MA120 beginning to flatten

This is a typical early stage of a bullish trend alignment.

Correction strength analysis:

Recent correction amplitudes:

First correction: about 7%

Second correction: about 5%

Most recent correction: about 3%

The decreasing correction amplitude suggests:

Market selling pressure is gradually diminishing.

3. 1-Hour Chart Analysis: Short-term Accumulation for Breakout

From the 1-hour perspective, ETH’s current structure resembles an ascending flag pattern.

Features:

Rapid rise

Sideways consolidation

Re-accumulation

Currently, the price oscillates around 2320–2360, which is a typical pre-breakout consolidation structure.

There are two possible scenarios in the short term:

Scenario 1: Breakout upward

If the 2360–2400 zone is broken with volume:

Short-term targets:

2450

2500

Scenario 2: Pullback for confirmation

If a correction occurs:

Support zones:

2320

2300

As long as 2300 is not broken, the market remains a healthy correction.

Today’s Trading Strategy (April 23rd)

Direction: Long

Entry position: 2345

First target: 2310

Second target: 2298

Stop-loss: 2392