Ethereum Whales Steady as Price Battles Key Levels Ahead of Moves

Ethereum (ETH) has risen 14% over the last week but struggles to surpass $1,900. The BBTrend indicator indicates a potential consolidation phase. There are currently 5,458 Ethereum whales, reflecting a neutral market stance. Price resistance remains around $1,828, with potential targets at $1,954 and $2,104. However, risks of a drop back to support at $1,749 or lower levels exist if momentum weakens.

Ethereum (ETH) has shown some impressive movement lately, gaining around 14% in the last week. However, it’s been unable to break above the $1,900 mark since April 2. The upcoming days will be crucial, as Ethereum’s performance at key support and resistance zones could determine if it can climb higher or if it faces renewed selling pressure.

Currently, Ethereum’s BBTrend is sitting at 8.77, down from a previous high of 11.83 just two days prior. Despite this decline, the indicator has remained positive for three days, which could indicate a lasting bullish trend even as momentum seems to ease. This change may hint at a possible consolidation phase, a moment for the market to gather strength for its next big move.

For those unfamiliar, the BBTrend, or Bollinger Band Trend, assesses trend strength by looking at price movements relative to the Bollinger Bands. High values usually suggest a strong uptrend, while negative values indicate a downtrend. Ethereum’s current BBTrend value shows that despite ongoing bullish sentiment, its momentum might be weakening, meaning if buyers don’t return, we could see heightened volatility or even sideways movement.

A look at Ethereum whale activity reveals that the number of wallets holding between 1,000 and 10,000 ETH is currently stable at 5,458, a slight increase from 5,442 on April 21. This steadiness over recent days could indicate a pause in buying or selling—larger holders may be waiting for a market catalyst before making their next substantial move. Monitoring these whales is vital, as their decisions can significantly influence prices.

In terms of price action, Ethereum has been battling around the $1,828 level. Its Exponential Moving Average (EMA) lines are aligned in a bullish manner, suggesting some upward momentum. Over the last few days, ETH has tried to push past that $1,828 resistance, but it hasn’t succeeded yet. If it manages a breakthrough, targets could rise towards $1,954 and $2,104.

Crossing above the $2,000 mark would be a notable event, marking the first trade above that psychological level since late March. However, if bullish momentum weakens, ETH might drop back to test support at $1,749. A failure to hold this level could lead to sharper declines to around $1,689. And if selling pressure ramps up, we could even see levels down to $1,537 or $1,385 in the cards.

In summary, Ethereum is at a critical juncture. Price actions around key resistance and support levels suggest volatility is ahead – traders should keep a close eye on how it plays out in the coming days.