See also: InstaForex trading indicators for ETH
Adding more than 4% since the start of the week and showing a confident rebound from recent lows, Ethereum (ETH) trades near 2390.00 in the first half of the European session.
The main driver proved to be a cluster of events: historic testimony by Kevin Warsh, the nominee to lead the Federal Reserve, who publicly backed digital assets, plus record inflows to ETFs and expanded institutional access to Ethereum through traditional brokerage platforms.
Institutional breakthrough and Kevin Warsh hearings
The week's key development came when Charles Schwab launched spot Ethereum trading for retail clients on April 17, 2026.
This landmark move marks the first time a major traditional US broker opened direct access to ETH for tens of millions of its clients, bypassing institutional ETF channels.
What this means for the market:
- Expansion of the buyer base: Schwab serves millions of retail investors who can now buy ETH directly through a familiar platform.
- Asset legitimization: the move by a leading broker signals recognition of Ethereum as a bona fide investment asset.
This event coincided with a continuing wave of inflows into spot Ethereum ETFs. On April 17 alone net inflows into ETH-ETFs reached $127.4 million, led by Fidelity (FETH) and BlackRock (ETHA). Since April 9, the market has seen a continuous series of inflows that by April 21 extended to eight consecutive days. On April 20, spot crypto ETFs drew about $313.77 million in total, of which Ethereum accounted for $67.77 million.
Crypto analysts link this institutional interest surge to expectations of a change in Fed leadership and a coming era of regulatory clarity.
On April 21, 2026, Kevin Warsh, President Trump's nominee for the next Federal Reserve chair, delivered testimony to the Senate Banking Committee that materially shifts the regulator's stance toward cryptocurrencies.
Key Warsh takeaways:
- Digital assets as part of the financial system. He said cryptocurrencies "already form part of the fabric of our financial industry" and should integrate with the financial system to improve investment opportunities and protect consumer rights.
- Personal crypto holdings over $100 million. Warsh disclosed ownership of crypto assets exceeding $100 million, including strategic stakes in Solana, dYdX, Flashnet (Bitcoin Lightning) and more than 20 other projects, making him the first Fed chair nominee with deep personal ties to the industry.
- Fed independence. Despite Trump's support, Warsh stressed he will not act as a "puppet" and never discussed policy rates with the president, which bolstered confidence in his competence.
- New inflation framework. Warsh called for creating a new and different structure for inflation with fewer premature Fed comments on policy.
Many economists expect that under Warsh the Fed will move toward more active easing in the second half of 2026, creating a high liquidity environment that historically supports risk assets and could push Bitcoin back toward 100,000.00.
The market initially reacted with a drop to warnings about tight policy, but then recovered as his balanced approach to innovation became apparent.
Macro backdrop: truce extended
On the geopolitical front, President Donald Trump decided to extend the ceasefire with Iran until Tehran submits a proposal and completes talks, and that decision boosted risk appetite and helped crypto recover.
At the same time, US blockade of Iranian ports remains in force, and the Islamic Revolutionary Guard Corps allegedly attacked a container ship, which reminds markets of persistent risks.
Positive sentiment now extends to other major crypto assets as well. XRP trades above the 50-day EMA (1.4100), which may signal a move toward the EMA144 on the daily XRP/USD chart (1.6500), while BTC already approaches the 144-day EMA near 78,700.00.
Warsh's significant personal investment in Solana also drew institutional attention to that ecosystem.
Brief technical analysis
From a technical perspective, Ethereum sits at a critical threshold within the 2,318.00–2,400.00 range, and a breakout will likely define the medium-term trajectory.
The daily RSI stands around 60.6, indicating a steady but not overheated bullish impulse. On the H4 chart the RSI holds above 63.5, and OsMA gains momentum in bullish territory.
Holding above 2,318.00 (EMA200 on the 1-hour chart) will preserve bulls' chances to break the round 2,400.00 level and push toward 2,500.00 (EMA144 on the daily chart) and 2,545.00 (EMA200 on the weekly chart).
Key events
| Date | Events | Anticipated influence |
| April 23 | Deadline for Warsh's answers to senators | Preparation for the confirmation vote |
| By May 15 | Senate vote on Warsh's confirmation | Key trigger that will shape future regulation |
| April 30 | Bank of England meeting | Impact on global liquidity |
| May 5 | RBA meeting | Indirect impact on risk appetite |
Conclusion
The crypto market faces a fundamental shift. For the first time in a long while several positive factors converged: expanded institutional access via Schwab, record ETF inflows and a Fed nominee who not only expresses sympathy for crypto but personally invested over $100 million.
The key zone 2318.00–2400.00 will become the battleground for ETH/USD in the coming days.
Relative ETH strength should prove more visible in this cycle thanks to reduced miner pressure and relatively smaller quantum-risk concerns versus Bitcoin, crypto analysts say.
Investors should closely watch the Senate vote on Kevin Warsh — his confirmation could catalyze Ethereum's exit from prolonged consolidation and open the path to new annual highs.
See also: ETH/USD: scenario outlook for 22.04.2026
