Ethereum News: Ethereum Surges 15% as Market Dominance Rebounds From All-Time Low

ETH Reclaims $1,800, Outperforms Bitcoin and the Broader MarketEthereum (ETH) is staging a strong comeback after weeks of underperformance, jumping nearly 15% in the past 24 hours to reclaim the $1,800 level. The rally comes as ETH’s market dominance rebounds from an all-time low of 7%, signaling renewed interest in the world’s second-largest cryptocurrency.According to TradingView, Ethereum dominance fell to its lowest point since September 2019 on April 22, before bouncing back to 7.5% as of April 23.“You can hate Ethereum all you want, but when it has a big day, the entire crypto ecosystem goes up,” noted popular trader Income Sharks on X.Ethereum Outperforms Bitcoin and Total MarketEthereum’s 24-hour performance has outpaced that of Bitcoin (+6%) and the broader crypto market (+5%, with total capitalization returning to the $3 trillion mark). Since crashing to $1,400 on April 9, ETH has now recovered almost 30%, reversing losses caused by earlier fears over trade tensions and market-wide risk aversion.Some analysts now believe Ethereum may have put in a local bottom, with oversold conditions creating the setup for a sharp reversal.Technical and Fundamental Catalysts AlignAccording to 10x Research’s Markus Thielen, Ethereum’s rebound is being driven by a combination of technical and structural factors.“It hasn’t taken much to drive Ethereum higher, as a heavily shorted market is now experiencing a squeeze,” Thielen told Cointelegraph.He added that ETH was oversold on both daily and weekly charts, and with an upcoming upgrade moving to mainnet, a fundamental catalyst is also supporting the move.Mixed Views on Independent ETH StrengthWhile some traders see ETH breaking out on its own momentum, others remain cautious. Jeff Mei, COO at crypto exchange BTSE, noted that Ethereum’s rally may still be closely tied to Bitcoin’s price movements and the broader macro environment.“Ether’s gain was largely due to it tracking the price of Bitcoin and the overall market,” Mei said, adding that Paul Atkins’ confirmation as SEC Chair also lifted sentiment across digital assets.ETH Dominance Holds Critical SupportAnalyst Rekt Capital highlighted ETH’s dominance bounce as a key technical milestone:“ETH managed to protect 2019 all-time lows as support,” he posted on April 22, referring to the critical 7% dominance level.Should the rally continue, ETH dominance may move back toward the 8–10% range, a level more consistent with its historical role in market cycles and DeFi leadership, according to Cointelegraph.