Ethereum (ETH) enters week with mixed signals for potential macrocatalysts of macrocatalysts that could affect risk assets as traders will be responsible for the announcement of tomorrow’s “liberation day” tariffs. The BBTREND indicator remains very negative, but it is beginning to ease, suggesting that it may slow down with bearish momentum.
On-chain data shows a slight rise in whale accumulation, suggesting careful optimism from large owners. Meanwhile, Ethereum’s EMA setup shows early signs of a trend reversal, but prices still need to break important resistance levels to see changes in direction.
Eth Bbtrend is relaxed, but still very negative
Ethereum’s BBTREND indicator currently reads -11.66, a slight improvement from -12.54 from the previous day, but has been in negative territory for the second day in a row.
Bollinger Band Trend (BBTREND) measures the strength and orientation of trends based on how prices interact with the Bollinger bands above and below.
Positive bbtrends suggest that prices are expanding towards the upper band, negative bbtrends show bearish momentum, and prices are leaning towards the lower band. Typically values above 10 are considered strong trend signals, with the current -11.66 reading signs of continuous downside pressure.
ETH BBTREND. Source: TradingView.
The persistent negative bbtrend suggests that Ethereum remains in a short-term bearish stage, with sellers still dominating price action.
The slight increase yesterday suggests that downward momentum may be slower, but the indicator is well below the neutral zone. In other words, despite the first in six months of flipping Solana with DEX trading volume, the reversal is still unclear.
Traders may interpret this as a warning to keep it cautious, especially if the ETH continues to hug the lower Bollinger band. For now, price action remains vulnerable, and bounces need to be supported by critical changes in volume and sentiment to show meaningful reversals.
Ethereum whales are accumulating again
The number of Ethereum whales holding ETH between 1,000 and 10,000 was marked slightly, rising from 5,322 to 5,330 in the last 24 hours.
Although this is a modest increase, whale activity is one of the most common chain indicators in chains, as these large holders often influence the market direction. Whale accumulation can demonstrate long-term outlook for increased confidence in Ethereum’s medium, particularly during periods of price uncertainty or integration.
Conversely, a decrease in whale addresses usually suggests a weakening of conviction or benefits.
Ethereum whale. Source: Santiment.
While recent rises are positive signs, it is important to note that current Ethereum whales numbers are still below the levels observed in previous weeks.
This means that while some large holders may have re-entered the market, the wider cohort of whales has not yet been fully committed to the accumulation stage.
A sustained upward trend in whale numbers could support bullish changes in sentiment and price. But for now, the data points to cautious optimism rather than a decisive reversal.
Will Ethereum be over $2,100 anytime soon?
Ethereum’s EMA line shows early signs of a potential trend reversal, with price action looking to surpass the important short-term average.
If Ethereum prices could push resistance at $1,938, it could indicate a broader start of recovery, potentially targeting the next resistance level at $2,104, and especially with supportive macrocatalysts, it would be $2,320, or even $2,546.
ETH price analysis. Source: TradingView.
Conversely, if Ethereum cannot maintain its upward push and bearish momentum, the focus will return to the minus side level.
The initial key support is $1,823. A break below that could expose Ethereum to an additional loss to $1,759.
