The BBTrend indicator, which tracks worth motion utilizing Bollinger Bands, stays destructive at -18. It is a slight enchancment from -21.59 earlier than the tariff information. Nevertheless, it’s nonetheless deep in bearish territory, exhibiting that the pattern has not reversed but.
Ethereum has been beneath promoting strain since April 8, and the latest uptick in BBTrend suggests solely a small slowdown in that decline. For bulls to regain management, ETH would wish to push this pattern indicator nearer to zero, supported by stronger worth motion.
Whale exercise additionally exhibits indicators of hesitation. Wallets holding between 1,000 and 10,000 ETH rose barely from April 5 to six, then stabilized at 5,376. This flat pattern suggests huge holders are ready for clearer indicators earlier than making daring strikes.
In the meantime, Ethereum’s EMA construction continues to replicate a bearish setup. Shorter-term averages are nonetheless under long-term ones, indicating weak momentum.
If consumers step in and ETH breaks previous resistance at $1,749, the following targets might be $1,954 and $2,104. Which may rely upon broader market shifts, together with the SEC’s approval of choices buying and selling for BlackRock’s Ethereum ETF.
But when promoting resumes, key assist at $1,412 might be examined, with additional draw back risking a fall under $1,300.
