Ethereum (ETH) has recently experienced a strong upward movement, posting a weekly gain of 14.5%. Despite this momentum, the asset continues to face significant resistance near the $1,828 level, a key threshold that could determine whether ETH breaks higher or retreats into consolidation. Since early April, Ethereum has struggled to reclaim territory above the $1,900 mark, hinting that the market may be entering a decisive phase.

One of the key technical signals supporting this outlook is the BBTrend, or Bollinger Band Trend indicator. It has cooled from a recent high of 11.83 to 8.77, indicating a weakening bullish momentum. Although the BBTrend remains positive—signaling an overall uptrend—the decline suggests Ethereum may be transitioning into a consolidation phase. This kind of pause often precedes larger market moves, either up or down, as buyers and sellers prepare for the next directional push. The BBTrend works by analyzing how prices behave in relation to Bollinger Bands, and its readings help identify the strength of a trend. A declining BBTrend means that although ETH is still in an uptrend, the drive behind that move is starting to wane, which can result in sideways trading or even a pullback if bulls don’t regain control.

Further contributing to this calm atmosphere is the behavior of Ethereum whales. These large holders, with wallet balances ranging between 1,000 and 10,000 ETH, have shown a remarkable level of stability. As of now, 5,458 such whale addresses are active, up slightly from 5,442 earlier in the week but holding steady over the past four days. This stability suggests that major holders are not currently accumulating or distributing large amounts of ETH. Instead, they appear to be in a wait-and-see mode, which can often foreshadow a larger price move once a clearer catalyst emerges. Whale behavior is a crucial on-chain signal in crypto markets, as large-scale buys or sells from these entities can influence market sentiment and price direction. Their current neutrality could either precede a renewed buying spree or indicate caution ahead of key resistance and support tests.

Technically, Ethereum’s price is currently battling with resistance around $1,828. While the price has approached this level multiple times in recent days, it has yet to break through decisively. The current bullish alignment of Ethereum’s exponential moving averages (EMAs)—with shorter-term EMAs positioned above longer-term ones—supports the potential for upward continuation. If Ethereum can break above $1,828, the next target would be the $1,954 resistance level, with further upside possible toward $2,104. A push past the $2,000 psychological barrier would mark ETH’s highest price since March 27 and could re-ignite bullish momentum across the market.

On the downside, if Ethereum fails to sustain upward pressure, support is expected near $1,749. A breakdown below this level may expose the asset to further declines, potentially pushing it toward $1,689. If bearish sentiment intensifies, lower support zones at $1,537 and even $1,385 could be tested, particularly if macroeconomic or regulatory concerns begin weighing on the market again.

In summary, Ethereum’s recent price action and technical indicators suggest a market in pause, with whales maintaining a neutral stance and bullish momentum showing signs of fatigue. However, with key levels in sight and EMAs favoring further upside, a decisive breakout or breakdown appears imminent. Investors and traders should closely watch how Ethereum behaves around the $1,828 resistance and $1,749 support zones in the coming days, as the next significant move may be just around the corner.