Ethereum Price Climbs, But Key Indicators Still Flash Bearish
The post Ethereum Price Climbs, But Key Indicators Still Flash Bearish appeared on BitcoinEthereumNews.com.
Ethereum (ETH) dipped over 7% in the last 24 hours despite Trump’s 90-day tariff pause. Key technical indicators suggest that a full trend reversal might be unlikely in the short term. The BBTrend remains strongly negative, and whale accumulation has stalled, both signaling caution. Combined with a still-bearish EMA structure, Ethereum may need a stronger wave of buying pressure before it can break out of its current downtrend. ETH BBTrend Is Strongly Negative But Bigger Than Yesterday Ethereum’s BBTrend indicator has slightly improved, currently reading -18, up from -21.59 just before Trump’s tariff pause announcement. This shift suggests that bearish momentum may be starting to fade, although it still signals overall downside pressure. The BBTrend (Band-Based Trend) is a volatility-based indicator that helps gauge the strength and direction of a trend using the relationship between price and Bollinger Bands. Values above zero indicate bullish momentum, while negative values point to bearish trends—the further from zero, the stronger the directional conviction. ETH BBTrend. Source: TradingView. ETH’s BBTrend has remained in negative territory since April 8, reflecting sustained weakness in recent sessions. While the recent uptick could hint at early stabilization, the current value of -18 suggests Ethereum hasn’t yet flipped the broader trend. For bullish confirmation, ETH would need to push BBTrend back toward neutral or positive territory, ideally supported by volume and strong price action. Until then, the chart points to a market still in correction mode but with some signs of possible reversal ahead. Whales Are Still Not Accumulating The number of Ethereum whales—wallets holding between 1,000 and 10,000 ETH—rose from 5,340 to 5,382 between April 5 and 6, marking a brief uptick in accumulation. However, the metric has since stabilized and currently sits at 5,376, showing little change in recent days. Tracking whale activity is critical because these…
Filed under: News - @ April 10, 2025 10:23 pm