ETHE

Grayscale Ethereum Staking ETF Shares

NYSE Arca · ETF

19.34

−0.30 (−1.53%)

Close, Oct 16, 2026

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Structural summary

What is the structure, what changed, and what would invalidate it

Viridia Intelligence

Context across dimensions, not a rating

StructureHigher highs, higher lowsIntermediate-degree swings on the daily chart.

WaveUnresolvedFlat, wave C down (Pattern Confidence 60); the weekly count points the other way.

FibonacciZone aboveNearest confluence 19.94–20.02 (4 relationships), +3.3% from the close.

MomentumStrong3 months +26.2% (ahead of SPY by 23.4 points); 6 months −2.0%.

RegimeMixed−0.8% vs the 50-day average, +7.1% vs the 200-day.

RiskNormal20-day volatility 34% vs 63% over the year; 1-year drawdown −63.5%; beta 2.45.

ETHE setup history4 resolved: 0 reached target first

Current structure

Price, swings and the preferred count on the chart

ETHE · 1DLoading bars…

SourceMassive, end of dayUpdated—MethodDaily bars, split-adjusted

Candidate interpretations

Every count shown passes every hard rule

Candidate interpretations

Ranked by Pattern Confidence

Counts ending at the latest intermediate swing high, 22.33 on Sep 21, 2026. 162 labelings tested, 127 broke a hard rule, 12+ remain.

Hard-rule evidence: why 127 labelings were eliminated

69Wave 2 always retraces less than 100% of wave 1
18Wave 4 always retraces less than 100% of wave 3
13Contracting triangle: C ends short of A's end, D short of B's end, and E short of C's end
8Wave B ends short of the start of wave A (a zigzag is a sharp correction)
6Wave 3 always travels beyond the end of wave 1
4Expanding triangle: C ends beyond A's end, D beyond B's end, and E beyond C's end

Method Every chain of 3–6 alternating pivots ending at the latest confirmed pivot is tested as each pattern; only counts with zero hard-rule failures are kept, then ranked by Pattern Confidence. Rules: rulebook.Engine pivots-1.0.0+rules-1.0.0+candidates-1.0.0+fib-1.0.1+rank-1.1.0+setup-1.0.1, bars to Oct 16, 2026

Fibonacci map

Confluence zones above and below the closeClose 19.34

19.34close

Bar length is the zone's strength (a weighted count of relationships, not a probability). Select a zone to see what forms it.

19.94 – 20.02+3.3% from the close

4 relationships · strength 3.2 · Minor degree

20.02ProjectionWave D = 78.6% of wave C · Minor · EWF · secondary ratio
20.01ProjectionWave 5 = 100% of wave 1 · Minor · Essentials
20.00ProjectionWave C = 123.6% of wave A · Minor · EWF · secondary ratio
19.94ProjectionThrust after the triangle ≈ width of wave A · Minor · EWP

Method Targets come from the Fibonacci relationships the sources describe for the wave in progress, Elliott trend channels, the prior fourth wave of lesser degree, and 38.2–78.6% retracements of the latest swing. A zone is where two or more independent relationships fall within max(¼ ATR, 0.4%) of each other; strength counts them, weighting primary ratios and higher degrees. It is not a probability.

Evidence

The setup the preferred count implies, and how that kind of setup has done

Setup

Intermediate degree · from the preferred count

No scenario at intermediate degree right now

The rules set no stop for the wave in progress, so there is no defined risk. Viridia shows nothing rather than a guess.

Setups at other degrees:

NoteResearch scenario generated from Viridia's structural model. Not a recommendation.MethodA setup restates the preferred count as a trade: the entry (the close, or the level where the correction in progress most often ends), the stop where the count is wrong (a rule level, or the end of a finished pattern), and the count's own Fibonacci target. Reward:risk is measured from the middle of the entry range. A setup needs reward:risk of at least 1 : 1. It is research output from the wave count, not a recommendation or a forecast.

Engine details

Analysis engine: pivots-1.0.0+rules-1.0.0+candidates-1.0.0+fib-1.0.1+rank-1.1.0+setup-1.0.1
Bars analysed to: Oct 16, 2026
Price history: Automatic, updated nightly
Daily bars: 514 since Sep 30, 2024
Avg volume, 50 days: 2.77M
Dollar volume, 20 days: $53.3M
SEC CIK: 0001725210
Provider symbols: nasdaqtrader: ETHE · massive: ETHE
Listing changes: None since Sep 24, 2026

SourcePrices: Massive (end of day, split-adjusted). Listings: Nasdaq Trader, SECUpdatedOct 19, 2026, 8:00 AM EDTMethodSecurity master, daily snapshot diff

Structure at a glance

Daily chart, as of Oct 16, 2026

Since the count's last pivot (22.33, Sep 21, 2026) price has moved −13.4%, the way the count expects.12 of 12 rule-valid counts expect the current move to be down.Weekly count: ending diagonal wave 3 ↑, opposite direction

Close call.The top two counts are within 4 points. Treat the structure as unresolved until one is invalidated.

Preferred count

Flat down · wave C ↓

Price is in wave C of a three-wave flat correction down.

A-B from 21.44, Sep 11, 2026

Pattern Confidence60Medium

1 of 1 checks met

Key levels, preferred count

Invalidation

None yet

The rules set no level for this state.

Target, wave C−5.5% from close

18.27

Wave C = 161.8% of wave A

Nearest confluence zone+3.3% from close

19.94–20.02

4 Fibonacci relationships meet here.

Alternate count

Flat up · complete, next move down ↓

A three-wave flat correction up looks complete, so the larger trend would normally resume down.

A-B-C from 14.71, Feb 24, 2026

Pattern Confidence56Low

3 of 5 checks met

Why this count is preferred · 1 met, 0 not met

Met

The count starts at the price extreme of the prior swing (a new trend begins where the old one ended)

Not met

None.

MethodPattern Confidence = (guidelines met + 2) ÷ (guidelines measured + 4), from the rulebook's guidelines, Fibonacci tendencies and wave-personality checks (wave 3 speed and volume, wave 5 volume, alternation in time, a start at the prior extreme), alternate waves in Fibonacci ratio, and the rarity of running flats. The alternate is the best-ranked count that tells a different story. It ranks the rule-valid counts against each other; it is not a probability of any outcome.

Structural summary

Viridia Intelligence

Current structure

Candidate interpretations

Candidate interpretations

Fibonacci map

Fibonacci map

Evidence

Setup

Engine details

Structure at a glance

What changed