Ethereum Whales Rise 0.15% Amid Mixed Signals Ahead of Tariff Announcement

Ethereum (ETH) is currently experiencing a period of mixed signals as traders prepare for the upcoming "Liberation Day" tariff announcement, which could serve as a significant macro catalyst affecting risk assets. The BBTrend indicator, which measures trend strength and direction, has shown a slight improvement, moving from -12.54 to -11.66. This indicates a potential slowdown in bearish momentum, although Ethereum remains in a short-term bearish phase with sellers still dominating the price action.

On-chain data reveals a modest increase in the number of Ethereum whales, rising from 5,322 to 5,330 in the past 24 hours. This slight uptick suggests cautious optimism among large holders, who often influence market direction. However, the current number of whales is still below levels observed in prior weeks, indicating that the broader whale cohort has yet to fully commit to an accumulation phase. If the upward trend in whale numbers continues, it could support a bullish shift in sentiment and price. For now, the data points to cautious optimism rather than a decisive reversal.

Ethereum’s EMA lines are showing early signs of a potential trend reversal, with price action attempting to break above key short-term averages. If Ethereum can push through the resistance at $1,938, it may signal the start of a broader recovery, potentially targeting the next resistance levels at $2,104. If momentum builds, especially with supportive macro catalysts, the price could increase toward $2,320 and even $2,546. However, if Ethereum fails to maintain its upward push and bearish momentum resumes, the focus will shift back to downside levels. The first key support sits at $1,823; a break below that could expose Ethereum to further losses toward $1,759.

In summary, Ethereum is currently in a fragile state, with mixed signals from technical indicators and on-chain data. While there are early signs of a potential trend reversal, any bounce will need to be supported by a decisive shift in volume and sentiment to signal a meaningful reversal. Traders should remain cautious, especially if Ethereum continues to hug the lower Bollinger Band. The upcoming tariff announcement could serve as a significant catalyst, potentially impacting the price of Ethereum and other risk assets.