Ethereum (ETH) enters a critical week as technical signals, on-chain data, and a significant update converge. The Pectra update, scheduled for May 7, aims to improve staking and wallet functionality, but short-term volatility is likely during the rollout.

Meanwhile, BBTrend for ETH is at 1.22, indicating early bullish momentum, although still not strong enough to confirm a breakout. At the same time, whale activity remains at around 5,463 addresses, and the price continues to trade in a narrow range between $1,828 and $1,749, setting the stage for a potential breakout or decline.

Ethereum Pectra update is scheduled for May 7: what to expect

The long-awaited Pectra update for Ethereum is set to go live on May 7, implementing 11 new Ethereum Improvement Proposals (EIPs). EIP-7251 stands out by raising the staking limit from 32 ETH to 2048 ETH, aimed at optimizing validator operations and enhancing staking efficiency.

The update also includes wallet improvements focused on user experience, such as easier recovery and gasless transactions, which may encourage wider adoption of decentralized applications (dApps). While this could increase demand for ETH in the long term, exchanges may temporarily halt ETH transfers during the rollout, leading to short-term volatility.

While the update promises significant improvements, it has already faced numerous delays due to prolonged testing on networks like Hoodi and Sepolia. A successful implementation could boost confidence and price, but any technical issues may trigger negative market reactions.

ETH trend signal at 1.22: early rise or just noise?

The Ethereum BBTrend indicator is at 1.22, signaling a weak bullish inclination. Over the last day, BBTrend reached a high of 2.23, showing stronger momentum ahead of a minor pullback.

Although the current value has cooled, it remains positive, suggesting that the uptrend has not yet been canceled. Traders are watching to see if BBTrend can rise again to confirm a recovery of strength, or if momentum will continue to weaken.

BBTrend (Band-Break Trend) is a volatility-based indicator designed to detect the strength and direction of price trends. Values above 1.00 typically indicate a bullish trend, while values below -1.00 suggest a bearish trend. Values between -1.00 and 1.00 are considered neutral or trendless, signaling sideways movement or weak confidence in any direction. The further BBTrend moves away from zero, the stronger the trend, making values like 2.23 notable for confirming the trend.

With BBTrend for ETH at 1.22, the indicator hints at a weak but positive trend, suggesting Ethereum may be entering the early stages of an uptrend.

However, this is not a strong breakout level, meaning that the price may still reverse if selling pressure increases or momentum fades.

A rise above 2.00 is likely to confirm sustained bullish momentum, while a fall below 1.00 may indicate a return to consolidation or even a shift to bearish conditions. Adding to the overall picture, the number of Ethereum whales—addresses holding between 1,000 and 10,000 ETH—currently stands at 5,463.

This number has fluctuated in recent weeks, trying to break out higher. Whale activity is a critical on-chain signal, as these large holders often influence price movements through accumulation or distribution. A stable or increasing number of whales usually signals confidence and long-term accumulation, which could support ETH's price in the coming weeks.

Conversely, continued stagnation or a decrease in whale numbers may reflect hesitancy among large investors, potentially limiting upward momentum.

ETH Stuck in Range as Traders Await Breakout or Decline

The price of Ethereum has been trading between resistance at $1,828 and support at $1,749 since April 21. The range has held for over two weeks, indicating market indecision.

EMA lines remain bullish, with short-term averages still above long-term ones. However, they are beginning to converge, and a 'death cross' may form soon. If support at $1,749 breaks, ETH could fall to $1,689. If the downtrend intensifies, targets such as $1,538 and $1,385 become relevant.

In the event of an increase, if ETH exceeds $1,873, it could rise to $1,954 and possibly reach $2,104, returning to the $2,000 level for the first time since March 27.#BinanceSquare #Write2Earn #ETH #Binance #crypto $ETH