Ethereum (ETH) shows signs of recovering strength, increasing by 14% over the past seven days. Despite the recent rise, Ethereum has been trading below the $1,900 mark since April 2, highlighting the importance of key resistance levels ahead.
Whether Ethereum can regain lost positions or will face new selling pressure likely depends on its further actions around key support and resistance zones.
Decline of BBTrend Ethereum: What Does This Mean Going Forward
The BBTrend indicator for Ethereum currently stands at 8.77, indicating a noticeable decline from 11.83 two days ago.
Despite the decline, the indicator has remained positive over the past three days, indicating that Ethereum has maintained its core bullish structure, even as momentum cools.
This shift may signal the early stages of a potential consolidation phase, during which the market pauses before deciding on its next significant move. BBTrend, or trend based on Bollinger Bands, is a technical indicator that measures trend strength by analyzing how price behaves relative to the Bollinger Bands.
When BBTrend values are high and positive, they typically signal a strong upward trend; when they are negative, it indicates a downward trend. The current BBTrend for Ethereum at 8.77 suggests that the upward trend is still present, but its strength is waning.
Failure of buyers to regain control could lead to increased volatility, potential pullbacks, or sideways movement.
Large Ethereum holders maintain positions: what does this mean for price
The number of Ethereum whales — wallets containing between 1,000 and 10,000 ETH — currently stands at 5,458.
This figure has slightly increased from 5,442 on April 21 to 5,457 on April 23 and has remained stable at this level for the past four days.
The recent stabilization indicates a pause in accumulation or distribution activity among large holders, which could be a potential signal that the market is waiting for a catalyst before making its next significant move. Tracking Ethereum whales is critically important, as these large holders can have a significant impact on price movements. When the number of whales increases, it often signals confidence and potential accumulation, which can be bullish for price.
Conversely, a decrease in the number of whales may indicate selling pressure ahead.
Given that the number of Ethereum whales remains stable at 5,458, this may indicate a neutral position among major players — neither aggressively buying nor selling — which could potentially lead to reduced volatility and range-bound price movement until a clearer trend emerges.
Ethereum's struggle around $1,828: breakthrough or breakdown?
The exponential moving average (EMA) lines for Ethereum are currently aligned in a bullish formation, with short-term EMAs positioned above long-term ones — a classic sign of upward momentum.
Over the past few days, ETH has attempted to break through the support zone around $1,828, but unsuccessfully. If Ethereum tests this level again and successfully breaks above it, the next target levels for growth will be resistance at $1,954 and then a potential move to $2,104. A breakthrough above $2,000 would be significant, marking the first time ETH has traded above this psychological level since March 27.
However, the price of Ethereum may drop again to test support at $1,749 if bullish momentum fades and the trend reverses. Losing this level could expose ETH to further declines to $1,689.
If selling pressure intensifies, deeper support levels at $1,537 and even $1,385 may become relevant.#BinanceSquare #crypto #Write2Earn #BinanceAlphaPoints #Binance $ETH