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Ethereum (ETH<\/a>) rose by 0.05% on Saturday. Partially reversing a 0.22% loss from Friday, ETH ended the day at $1,849. Significantly, ETH ended a three-day losing streak.<\/p>\n<\/div>\n<\/div>\n This morning, ETH was up 0.04% to $1,850. A range-bound start to the day saw ETH rise to an early high of $1,851 before falling to a low of $1,847.<\/p>\n<\/div>\n<\/div>\n The Daily Chart showed ETH hovering below the $1,865 \u2013 $1,895 resistance band. ETH also sat below the 50-day EMA<\/a> ($1,861) while holding above the 200-day ($1,790), sending bearish near-term but bullish longer-term price signals. Notably, the 50-day EMA narrowed to the 200-day EMA, a bearish price signal.<\/p>\n Looking at the 14-Daily RSI, the 47.40 reading reflects bearish sentiment, supporting a fall through the $1,815 \u2013 $1,795 support band to target the 200-day EMA ($1,790). However, an ETH move through the 50-day EMA ($1,861) would support a breakout from the $1,865 \u2013 $1,895 resistance band to target $1,950.<\/p>\n Looking at the 4-Hourly Chart, the ETH\/USD faces strong resistance at $1,850. ETH sits below the $1,865 \u2013 $1,895 resistance band and the 200-day EMA ($1,859). However, ETH remained above the 50-day EMA ($1,847), sending bullish near-term but bearish longer-term price signals.<\/p>\n This morning the 50-day EMA eased back from the 200-day EMA, a bearish price signal.<\/p>\n An ETH move through the 200-day EMA ($1,859) would support a breakout from the $1,865 \u2013 $1,895 resistance band to target $1,950. However, a fall through the 50-day EMA ($1,847) would bring the $1,815 \u2013 $1,795 support band into play.<\/p>\n The 14-4H RSI reading of 52.56 reflects moderately bullish sentiment, with buying pressure outweighing selling pressure. Significantly, the RSI aligns with the 50-day EMA, supporting a breakout from the 200-day EMA to target the $1,865 \u2013 $1,895 resistance band.<\/p>\n Staking statistics<\/a> from Friday delivered much-needed support on Saturday. A surge in staking inflows and an upward trend in the net staking balance drove buyer appetite.<\/p>\n Staking inflows increased from 66,400 ETH on Thursday to 104,192 on Friday. The net staking balance stood at a 51,720 ETH surplus ($95.82 million), up 29% over 24 hours. While both figures were bullish, a rise in pending withdrawals capped the upside.<\/p>\n Spot\u00a0BTC<\/a>\u00a0ETF-related news was also bearish. The SEC\u00a0turned<\/a>\u00a0to the public for comment on the ARK Invest spot BTC ETF application, delaying a decision by 21 days. While a 21-day delay would unlikely have a long-term impact on ETH price action, a lengthy SEC-induced delay to the inflow of sticky institution money would be price-negative.<\/p>\n Investors expect spot ETH ETF applications to follow the approval of one, some, or all of the spot BTC ETFs.<\/p>\n According to\u00a0CryptoQuant<\/a>, staking inflows tumbled from 104,192 ETH on Friday to 29,568 on Saturday. However, sub-30,000 aligns with weekend trends, which should limit the impact on ETH.<\/p>\n The overnight withdrawal profile was bearish, with principal withdrawals rising to above-normal levels before easing back. Notably, withdrawal projections for the morning session turned bearish. Projections show withdrawals will spike before returning to normal withdrawal levels.<\/p>\n On Saturday, the net staking balance stood at a 94,290 ETH surplus ($174.28 million), up 82% over 24 hours. Deposits totaled 105,440 versus withdrawals of 11,140 ETH.<\/p>\nEthereum Price Action<\/h2>\n
Daily Chart<\/h2>\n
4-Hourly Chart<\/h2>\n
Staking Statistics Offset SEC Bearish Sentiment Toward the ETF Delay<\/h2>\n
Staking Statistics Signals Send Mixed Signals<\/h2>\n