{"schema_version":"1.0","name":"ETHU Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"2e42a8c8-d977-4735-8c55-be2dc962b283","symbol":"ETHU","name":"21Shares Ethereum Staking ETP","exchange":"LSE","country":"GB","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price structure remains rotational.","sections":[{"name":"Executive technical read","description":"Completed-week price state, Market Dynamics alignment, current price and the principal technical KPIs."},{"name":"Market Dynamics","description":"The proprietary relationship between completed price, underlying support, positioning zones and confirmation."},{"name":"Ticker evidence record","description":"Current application, comparable historical conditions, zone outcomes and practical review conditions."},{"name":"Adaptive technical evidence","description":"Six condition-selected views: Trend, acceptance and volatility envelope, Drawdown and recovery pressure, Range position and boundary pressure, Acceleration, deceleration and rollover, Range pressure and compression, Directional strength and control."},{"name":"SM Tape Intelligence","description":"Resolved consensus with Control, Force, Direction and Confirmation gauges against completed price."},{"name":"Research boundary","description":"Dated scope, interpretation limits, methodology version and source references."}],"research":{"available":true,"asOf":"2026-08-21","observations":47,"displayedObservations":47,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price structure remains rotational.","evidenceAlignment":{"status":"Positive support; price rotational","headline":"Market Dynamics is positive while price has no clear direction","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price structure remains rotational.","take":"The underlying condition is constructive, but a positive price response is still required.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"values":[0.008912,0.052162,0.22931,0.376,0.338192,0.33533,0.306219,0.132557,-0.064262,-0.241398,-0.407818,-0.481673,-0.456579,-0.445437,-0.306954,-0.179143,-0.031038,0.144205,0.306961],"opens":[24.135,25.33,25.6,26.23,25.73,23.389999,23.525,18.094999,18.299999,18.73,17.360001,19.1,19.52,20.18,20.82,21.655001,20.290001,20.754999,20.99],"highs":[27.07,26.73,25.889999,26.709999,25.809999,23.77,23.525,18.59,18.610001,18.855,17.42,19.235001,19.969999,20.26,21.485001,21.780001,21.32,21.110001,26.950001],"lows":[24.084999,25.290001,24.790001,25.040001,24.365,23.1,21.780001,17.49,18.264999,18.565001,16.91,19.1,19.52,20.08,20.43,20.465,20.275,20.674999,20.905001],"closes":[26.985001,25.525,25.475,25.135,24.434999,23.377501,22.309999,17.584999,18.555,18.735001,17.41,19.102501,19.780001,20.08,20.555,20.465,21.135,20.715,26.445],"hoverRows":[[{"label":"Open","value":"24.1","className":"is-ohlc","compact":true},{"label":"High","value":"27.1","className":"is-ohlc","compact":true},{"label":"Low","value":"24.1","className":"is-ohlc","compact":true},{"label":"Close","value":"27.0","className":"is-ohlc","compact":true},{"label":"Market 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conditions, but Market Dynamics still offers support. Extension can persist; a rollover has not been confirmed.","tone":"caution"},"chartSummary":"Price is in the distribution zone. The Market Dynamics bars show whether underlying support is keeping pace with that elevated price.","summary":"Price is inside distribution conditions, but Market Dynamics still offers support. Extension can persist; a rollover has not been confirmed.","annotations":[{"label":"Current tape relationship","value":"Extended but supported","detail":"Market Dynamics strengthened this week and remains positive.","tone":"caution"},{"label":"Price location","value":"Distribution zone","detail":"Price is extended; support can persist, but rollover risk must be monitored.","tone":"caution"},{"label":"Latest positioning marker","value":"None in view","detail":"Entering the lower zone alone does not create a positioning confirmation.","tone":"neutral"},{"label":"Market Dynamics confirmation","value":"Supported","detail":"Underlying support has strengthened across the recent completed path.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":19,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-10-03","2025-10-10","2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"close":[49.415,45.87,41.56,42.585,42.54,36.62,35.65,29.94,33.4,33.74,33.995,32.86,32.3,34.2,34.41,36.12,32.41,30.07,22.3925,22.6525,21.555,21.4025,22.8375,23.3625,23.6175,21.8875,22.6875,24.71,26.985,25.525,25.475,25.135,24.435,23.3775,22.31,17.585,18.555,18.735,17.41,19.1025,19.78,20.08,20.555,20.465,21.135,20.715,26.445],"consensus":[90.5975,-100.0,-78.0725,-24.5318,-49.0734,-58.4557,-45.7917,-75.8748,-14.2505,-19.3492,-30.9384,-23.7229,-24.9764,0.0,-9.1411,18.9189,-39.1764,-46.6962,-67.3696,-25.5818,-45.5639,-34.9604,0.0,-9.8874,-18.7405,-42.4245,-15.7441,18.5892,42.5595,0.0,8.9328,-12.3515,-26.8062,-23.7323,-34.8547,-60.8941,-18.9456,-28.1841,-29.6379,-13.9512,0.0,-12.162,0.0,-9.9566,26.1593,-8.5589,74.503],"supportDates":["2025-10-03","2025-10-10","2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"control":[null,null,null,null,null,-61.4416,-44.7303,-70.4277,-0.7688,-11.4596,-35.5059,-33.5317,-24.538,0.0,-11.2985,13.9315,-48.094,-50.2397,-65.3408,-13.6713,-44.3183,-29.6067,0.0,-13.0915,-32.1591,-50.4179,-23.2953,18.9409,39.6771,0.0,1.7648,-23.4486,-32.8292,-27.2089,-39.638,-72.8199,-7.7162,-23.6694,-19.967,-30.626,0.0,-29.8924,0.0,-25.408,24.6817,-22.1225,66.4762],"force":[90.5975,-100.0,-78.0725,-24.5318,-22.7222,-40.965,-24.2171,-86.1434,-32.0211,-8.0118,-11.5626,-11.7125,-6.4161,0.0,-2.2258,34.7323,-53.7765,-50.0337,-82.1934,-2.5332,-26.9943,-10.4078,0.0,-16.5882,-2.5445,-52.5214,-6.1516,42.259,66.345,0.0,8.6758,-17.9577,-31.1292,-18.2927,-28.7305,-51.0557,-8.6036,-5.7305,-12.222,-11.346,0.0,-3.0416,0.0,-14.7102,33.9272,-15.0234,97.3445],"direction":[null,null,null,null,-67.8956,-67.5365,-62.4152,-74.7653,-64.4665,-47.9095,-39.5582,-21.0918,-38.7348,0.0,-14.7947,13.3236,-18.5562,-40.2626,-59.0999,-59.276,-60.2516,-58.6165,0.0,-25.1368,-14.9736,-26.077,-22.7539,1.2801,28.8641,0.0,17.3085,-4.3353,-16.835,-23.6446,-33.7625,-54.2921,-51.4572,-49.3819,-53.1303,-12.9635,0.0,-1.5868,0.0,-11.0976,22.2994,-11.5598,67.3612],"intensity":[null,null,null,null,25.0,100.0,33.3333,85.7143,37.5,33.3333,60.0,36.3636,8.3333,38.4615,42.8571,33.3333,68.75,47.0588,100.0,57.8947,5.0,14.2857,27.2727,56.5217,33.3333,40.0,3.8462,44.4444,53.5714,27.5862,6.6667,6.4516,12.5,51.5152,23.5294,85.7143,13.8889,2.7027,42.1053,61.5385,5.0,4.878,26.1905,2.3256,9.0909,6.6667,95.6522],"confirmation":[51.6579,54.6667,47.6499,30.5168,59.8322,86.1273,82.012,92.6759,10.374,29.854,77.2402,75.0758,52.7668,28.9743,48.354,74.612,80.8455,82.9905,90.041,53.3846,82.0335,78.5206,8.08,28.5138,50.6322,81.7617,50.9014,51.9979,82.3879,29.1287,48.2932,50.2124,76.618,75.3756,78.894,87.0046,7.2296,53.7367,77.1007,28.5265,25.5698,26.3489,4.0926,28.1297,76.6302,27.8619,92.6594],"persistence":[null,null,33.3333,50.0,60.0,66.6667,71.4286,75.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,62.5,62.5,62.5,62.5,62.5,62.5,75.0,62.5,87.5,87.5,87.5,87.5,62.5,37.5,25.0,12.5,12.5,12.5,12.5,12.5,37.5,62.5,75.0,100.0,100.0,87.5,87.5,75.0,75.0,50.0,50.0,25.0],"assessmentRisk":[null,null,null,null,25.2377,20.6849,26.2761,12.0571,42.5592,26.9479,9.7159,50.4514,6.5679,5.2686,12.166,33.0264,21.6246,22.0711,16.2826,37.1959,27.1864,32.4401,10.1148,18.77,43.1298,30.6872,4.8196,14.8245,21.6985,48.5058,36.4627,23.3725,35.1428,35.3679,31.9508,19.5376,40.4103,35.4288,34.8478,41.5937,31.0784,41.6107,47.0635,40.852,22.2965,23.8908,12.2849],"volumeParticipation":true,"latest":{"consensus":74.5,"control":66.5,"force":97.3,"direction":67.4,"confirmation":92.7,"persistence":25.0,"assessmentRisk":12.3,"intensity":95.7,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is strengthening","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+74.5","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+66.5","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+97.3","detail":"Upward 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and rollover","description":"The impulse path separates directional acceleration from a loss of momentum.","reason":"Selected because the latest impulse is unusually active or is approaching a change of direction.","series":[{"label":"Impulse","values":[null,null,null,null,null,null,null,null,null,null,null,null,-4.4607,-4.3289,-4.1596,-3.8432,-3.8474,-3.9935,-4.6749,-5.1348,-5.5241,-5.7783,-5.7972,-5.7041,-5.5457,-5.4965,-5.3314,-4.98,-4.4665,-4.1297,-3.8228,-3.5658,-3.3798,-3.2798,-3.2493,-3.5653,-3.6948,-3.7398,-3.8382,-3.7365,-3.5602,-3.3576,-3.1227,-2.9102,-2.6572,-2.4621,-1.8241],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-4.1872,-4.1485,-4.2538,-4.43,-4.6488,-4.8747,-5.0592,-5.1882,-5.2597,-5.307,-5.3119,-5.2455,-5.0897,-4.8977,-4.6827,-4.4594,-4.2434,-4.0507,-3.8904,-3.8254,-3.7993,-3.7874,-3.7975,-3.7853,-3.7403,-3.6638,-3.5556,-3.4265,-3.2726,-3.1105,-2.8532],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.3398,0.155,-0.4212,-0.7048,-0.8753,-0.9036,-0.738,-0.5159,-0.286,-0.1894,-0.0195,0.2655,0.6232,0.768,0.86,0.8935,0.8637,0.7709,0.6411,0.2601,0.1045,0.0475,-0.0407,0.0488,0.1801,0.3062,0.4329,0.5163,0.6155,0.6484,1.0291],"stroke":"#07865c","width":1.0,"fill":"rgba(7,134,92,.12)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["2025-10-03","2025-10-10","2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"]},{"key":"volatility","eyebrow":"Risk 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}