Ethereum (ETH) has risen nearly 9% over the past seven days, showing signs of strength, but the price is suffering at the $2,000 mark. Despite this upward movement, key indicators suggest that the market still lacks critical momentum.
From trend strength to whale activity to support/resistance levels, several indicators refer to markets that are caught up in integration. Whether Ethereum breaks or breaks down from here may depend on how it responds to the technology level and how it changes investors’ behavior over the next few days.
Ethereum Bbtrend is positive
Ethereum’s BBTREND currently sits at 3.23 and remains in positive territory for the past three consecutive days. The indicator recently peaked at 3.93 on March 22, indicating a short-term strengthening trend.
This sustained positive reading suggests that Ethereum, while not aggressive, may be gaining momentum again.
In particular, the last time Bbtrend reached above 5 was at levels normally associated with strong trend conditions, but almost a month ago, on February 26th. Since then, the indicator has shown moderate strength, but has not yet entered the high instantaneous zone again.
ETH BBTREND. Source: TradingView.
Bbtrend stands for Bollinger Band Trend and is a technical indicator used to measure the strength of price trends. Typically, a Bollinger band is used as a baseline to quantify how far the price is deviating from the average.
Values below 0.5 often indicate a lack of trend or choppy state, whereas measurements above 1.0 indicate a strong growth trend. Values above 3 are considered indications of a robust trend, while those above 5 usually refer to strong directional movements, either bullish or bearish.
While Ethereum’s Bbtrend hovering at 3.23 suggests a conviction of some direction, the absence of measurements above 5 in the past month may mean that ETH is not yet in a breakout or high instantaneous stage while it is trending.
The whales have reached a month
The number of Ethereum whales holding 1,000-10,000 ETH has decreased to 5,329 from 5,344 just three days ago.
This slight but notable decline suggests a gradual decline in large-scale reliability or positioning. Of particular importance is that this is the lowest whale number observed since February 25th, marking a one-month low.
The change may seem small, but even marginal movements in whale behavior can ripple over the wider market, especially when Ethereum trend indicators show only moderate strength.
Ethereum whale. Source: Santiment.
Tracking the wallet of Ethereum whale is important as these large holders have the power to influence prices through key buying and selling activities.
Whales often act as smart money, and changes in accumulation or distribution patterns serve as early signals for broader market changes. A decline in whale numbers may mean that some large-capacity investors are profiting and adopting or adopting a more cautious stance.
The fact that whale wallets are currently low monthly may suggest an increase in hesitation at higher price levels, potentially limiting the momentum of ETH rise in the near future, unless new influx or investor confidence is revived.
Will Ethereum fall below $2,000 again?
Ethereum’s EMA line now suggests a phase of integration, with price measures continuing to struggle with the $2,000 mark. The lack of clear direction reflects market indecisiveness as ETH trades within narrow ranges.
On the downside, if Ethereum prices test the key support level at $1,938 and don’t hold it, the next lower target is $1,867, potentially $1,759.
ETH price analysis. Source: TradingView.
Conversely, if Ethereum succeeds in building a bullish momentum and building a sustained uptrend, the first major resistance to surveillance is $2,320.
A successful breakout beyond this level could trigger a run heading towards $2,546, and could even reach $2,855 when momentum accelerates.
