Ethereum Price Dip Over 7% as Bearish Indicators Hold Firm

The BBTrend indicator, which tracks price movement using Bollinger Bands, remains negative at -18. This is a slight improvement from -21.59 before the tariff news. However, it’s still deep in bearish territory, showing that the trend has not reversed yet.

Ethereum has been under selling pressure since April 8, and the recent uptick in BBTrend suggests only a small slowdown in that decline. For bulls to regain control, ETH would need to push this trend indicator closer to zero, supported by stronger price action.

Whale activity also shows signs of hesitation. Wallets holding between 1,000 and 10,000 ETH rose slightly from April 5 to 6, then stabilized at 5,376. This flat trend suggests big holders are waiting for clearer signals before making bold moves.

Meanwhile, Ethereum’s EMA structure continues to reflect a bearish setup. Shorter-term averages are still below long-term ones, indicating weak momentum.

If buyers step in and ETH breaks past resistance at $1,749, the next targets could be $1,954 and $2,104. That might depend on broader market shifts, including the SEC’s approval of options trading for BlackRock’s Ethereum ETF.

But if selling resumes, key support at $1,412 could be tested, with further downside risking a fall below $1,300.