{"schema_version":"1.0","name":"ETHC Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"4384dd83-8374-45be-a6ed-9fe9d837c7ee","symbol":"ETHC","name":"21Shares Ethereum Core Staking ETP Acc","exchange":"LSE","country":"GB","asset_type":"etf","currency":"GBP","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, Activity pressure and cumulative balance, Drawdown and recovery pressure, Range position and boundary pressure, Acceleration, deceleration and rollover, Range pressure and compression."},{"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":[-0.046508,-0.025934,0.155994,0.293815,0.312291,0.350723,0.327401,0.177497,0.010318,-0.167627,-0.337634,-0.332271,-0.331565,-0.289691,-0.148432,-0.072906,0.051243,0.184216,0.308152],"opens":[6.0425,6.31,6.34,6.4825,6.34,5.875,5.7725,4.541,4.605,4.732,4.43,4.825,4.993,5.0725,5.2075,5.4775,5.05,5.3,5.225],"highs":[6.69,6.61,6.4125,6.5575,6.3575,5.9425,5.8325,4.636,4.658,4.778,4.441,4.847,4.993,5.0725,5.405,5.4975,5.34,5.3005,6.59],"lows":[6.0,6.26013,6.17,6.1775,6.1325,5.78982,5.46482,4.38,4.585,4.705,4.28793,4.78775,4.93179,4.981,5.13,5.1175,5.05,5.1125,5.1864],"closes":[6.6675,6.335,6.27,6.1825,6.15125,5.835,5.5575,4.4145,4.6425,4.7585,4.428,4.8125,4.9575,5.02375,5.1875,5.11875,5.27375,5.15,6.53875],"hoverRows":[[{"label":"Open","value":"6.04","className":"is-ohlc","compact":true},{"label":"High","value":"6.69","className":"is-ohlc","compact":true},{"label":"Low","value":"6.00","className":"is-ohlc","compact":true},{"label":"Close","value":"6.67","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":[12.245,11.47,10.3625,10.6775,10.8225,9.2975,9.055,7.65,8.4375,8.4688,8.515,8.22,7.9975,8.4875,8.5925,9.0325,7.995,7.3375,5.51,5.5675,5.3525,5.3262,5.755,5.915,5.9275,5.5125,5.7363,6.1387,6.6675,6.335,6.27,6.1825,6.1513,5.835,5.5575,4.4145,4.6425,4.7585,4.428,4.8125,4.9575,5.0237,5.1875,5.1188,5.2737,5.15,6.5388],"consensus":[94.4444,-100.0,-76.7392,-21.4893,-48.471,-62.7106,-48.8925,-79.1408,-18.1643,-23.4169,-35.3157,-28.4362,-41.8264,0.0,-13.3403,22.3112,-48.076,-54.2435,-69.4325,-31.6338,-41.2737,-35.0431,0.0,0.0,-20.5587,-41.098,-15.2931,13.913,36.8428,0.0,0.0,-16.3896,-20.6063,-30.1244,-37.7707,-60.5199,-21.0917,-22.5956,-32.0779,0.0,0.0,0.0,10.6333,-13.1231,23.1286,-15.2121,75.2608],"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,-66.2558,-47.8952,-74.6492,-4.5935,-13.7631,-38.4516,-35.9496,-48.3841,0.0,-17.9116,15.8791,-55.5658,-58.3595,-67.7276,-23.6522,-35.8151,-29.1875,0.0,0.0,-34.8789,-52.0336,-22.1895,14.9167,38.5231,0.0,0.0,-28.785,-26.4496,-35.873,-43.8899,-72.1659,-11.0192,-14.4277,-24.191,0.0,0.0,0.0,5.3061,-27.989,21.9113,-23.3244,67.4569],"force":[94.4444,-100.0,-76.7392,-21.4893,-20.6096,-45.3057,-26.8786,-88.9942,-30.7451,-5.3299,-13.9596,-19.934,-21.9279,0.0,-1.0756,43.1484,-70.7864,-58.0722,-83.0651,-2.1303,-20.3816,-8.5702,0.0,0.0,-6.183,-45.2184,-6.1722,34.9567,46.5335,0.0,0.0,-19.6133,-21.135,-28.6054,-31.6202,-49.5704,-7.2115,-1.7399,-15.1535,0.0,0.0,0.0,23.263,-21.8487,27.2913,-35.1644,98.4875],"direction":[null,null,null,null,-68.3719,-71.0908,-65.7566,-77.2361,-68.609,-54.9833,-46.9863,-25.9226,-48.5452,0.0,-18.4132,14.7783,-23.2946,-46.8048,-61.6435,-61.8295,-62.4351,-60.6443,0.0,0.0,-14.461,-25.657,-22.7438,2.2653,28.0003,0.0,0.0,-0.0793,-13.5506,-24.6395,-35.1705,-55.0314,-52.8197,-49.3128,-53.1803,0.0,0.0,0.0,19.8286,-10.0991,21.5465,-8.3109,67.5891],"intensity":[null,null,null,null,25.0,100.0,16.6667,85.7143,50.0,11.1111,60.0,36.3636,16.6667,30.7692,35.7143,26.6667,75.0,52.9412,100.0,47.3684,5.0,4.7619,27.2727,4.3478,25.0,32.0,15.3846,33.3333,53.5714,24.1379,10.0,3.2258,15.625,42.4242,29.4118,88.5714,22.2222,2.7027,47.3684,58.9744,7.5,2.439,38.0952,4.6512,13.6364,8.8889,91.3043],"confirmation":[52.8889,54.6667,47.2232,29.5432,59.5704,87.4829,82.9899,93.6938,11.0877,53.2348,78.6024,76.726,80.6781,29.6059,49.3227,75.8726,83.9623,85.4119,90.6599,54.6786,80.6541,78.4962,9.0719,29.2137,51.2558,81.1103,50.7846,50.8948,80.0594,28.2596,2.5703,50.5043,74.5211,77.5059,79.8059,86.8552,52.912,52.3179,77.8693,28.582,3.2836,24.7202,50.4958,29.0599,75.5466,29.792,92.9102],"persistence":[null,null,33.3333,50.0,60.0,66.6667,71.4286,75.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,62.5,62.5,62.5,62.5,62.5,62.5,75.0,62.5,75.0,75.0,75.0,75.0,50.0,25.0,12.5,12.5,25.0,25.0,25.0,25.0,50.0,75.0,87.5,100.0,87.5,75.0,62.5,37.5,37.5,12.5,12.5,12.5],"assessmentRisk":[null,null,null,null,24.8975,18.4213,23.656,10.415,40.6621,27.8705,13.3617,47.502,7.5447,0.0156,12.3126,31.1716,23.8556,19.4801,15.2615,34.1747,29.3291,32.3509,19.3897,27.133,46.3194,34.7971,6.1282,9.9951,22.5389,46.8201,36.3451,15.974,37.2616,31.92,30.2573,19.723,39.3891,38.152,33.5593,38.2546,35.3922,32.7047,43.08,40.5869,22.8368,23.8432,11.7457],"volumeParticipation":true,"latest":{"consensus":75.3,"control":67.5,"force":98.5,"direction":67.6,"confirmation":92.9,"persistence":12.5,"assessmentRisk":11.7,"intensity":91.3,"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":"+75.3","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+67.5","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+98.5","detail":"Upward 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}