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On Sunday, Ethereum (ETH) increased by 1.23%. After losing 0.95% on Saturday, ETH gained 10.35% for the week to reach $1,899. Notably, ETH avoided trading below $1,800 for the third session running.

ETH experienced a mixed day's start, dropping to a low of $1,871 in the first hour. ETH climbed to a mid-morning high of $1,930, avoiding the First Major Support Level (S1) at $1,859 in the process. Before dropping down to below $1,900, ETH broke through the First Major Resistance Level (R1) at $1,900 and the Second Major Resistance Level (R2) at $1,924.

Justin Sun released $30,000,000 in ether

Due to the lack of Ethereum network-related news, Sunday was rather quiet. The absence of network discussion put the focus on staking statistics and analysis.

The founder of Tron (TRX), Justin Sun, was said to have removed $29.7 million in ETH from the Lido (LDO) Finance Liquid Staking platform over the weekend. According to reports, Sun gave Huobi the tokens.

In February, Sun pledged 150,100 ETH on Lido, increasing the amount of ETH being staked to 198,560 ETH on February 25. In response to the announcement, ETH increased 2.94% on February 26th.

Staking Statistics Indicate a Negative Attitude

Staking inflows jumped from 34,880 ETH on Saturday to 44,352 ETH on Sunday, according to CryptoQuant. Staking inflows remained considerably below the 100,000 inflow level notwithstanding the recovery.

With principle withdrawals at above-average levels, the overnight withdrawal profile was bearish. Withdrawal expectations, though, were optimistic for the morning session. According to projections, principle withdrawals will return to their previous levels.

The net staking balance on Saturday was 6,760 ETH negative (+36.90% over 24 hours), which is equal to a $12.75 million negative balance. There were 6,760 ETH in withdrawals compared to 0 ETH in deposits.

TokenUnlocks reports that the entire amount of pending withdrawals was 37,040 ETH, or roughly $69.49 million. Notably, the staking APR was 5.86%, remaining constant over the previous day. Staking APR's declining tendency keeps the price of ETH in the negative.

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