Ethereum is trading in the green on Wednesday following a poor start to the week. The positive performance over the past 24 hours comes despite several on-chain and derivatives indicators suggesting traders remain reluctant to make significant new commitments. Holdings across major wallet groups changed only modestly, while exchange net flows remained close to neutral. US spot Ethereum Exchange-Traded Funds (ETFs) showed some improvement at the beginning of the week, although broader American investor sentiment remains weak. From a technical perspective, ETH retains a mildly bullish short-term bias above its 20-day and 50-day Exponential Moving Averages (EMAs). However, the 100-day EMA and the horizontal resistance at $1,961 continue to limit its recovery.