Ethereum: Supply Shock Builds as Staking Hits Record

Ethereum is setting up a supply shock. $ETH trades below realized price while exchange balances hit fresh lows and more ETH sits locked in staking than at any point in the past year.

Technical Confluence: Price at $1838.31 tests the lower Bollinger support band at $1839.36 with EMA50 resistance at $1891.46 capping upside and MACD locked in a death cross at -13.28, pointing to a brief consolidation at support before any attempt at the upper band near $1939.05.