A BBTrend value above 0 indicates upward price movement, and the current reading suggests significant bullish sentiment that could lead to further price increases if maintained.

If Ethereum can break through the $2,900 resistance level, it could rally towards $3,000, a key milestone not seen since early February, which would boost bullish sentiment among traders.

However, Ethereum is facing strong resistance at $2,900 and has key support at $2,679; failing to hold this support could lead to further declines towards $2,479 and $2,326.

The number of Ethereum whales, defined as addresses holding between 1,000 and 10,000 ETH, has decreased to 5,378, marking a decline for seven consecutive days, which may signal reduced confidence among large holders.

Tracking whale movements is crucial, as their trading can significantly impact market trends; a decline in whale counts typically indicates selling pressure or a reluctance to accumulate.

The BBTrend indicator has surged to 4.99, reflecting strong bullish momentum, a significant shift from its previous value of -3, suggesting a possible reversal in market conditions.

This decline in whale activity may suggest profit-taking or cautious sentiment, despite Ethereum futures open interest reaching an all-time high.

Ethereum (ETH) is currently at a critical technical juncture, with mixed signals that suggest the potential for either a breakout or a breakdown.

This pivotal moment for Ethereum is heavily influenced by whale activity and technical indicators, which could dictate its near-term price trajectory.