ETH rebounds 0.83% in 15 minutes: key support test triggers short covering

From 15:15 to 15:30 (UTC) on June 26, 2026, ETH achieved a +0.83% return in the 15-minute period, with a price range of 1565.41-1587.03 USDT and an amplitude of 1.38%. Earlier, ETH had been under continuous downward pressure, hitting a low of $1,512 on June 26, approaching the year's low of $1,505. Short covering near the key technical support level drove a short-term price rebound.

The main driver of this anomaly was the test of a key technical support level. The price approaching the $1,505-$1,512 zone triggered profit-taking by short sellers, while trading volume remained relatively low, allowing a small amount of buying to push the price significantly.

Additionally, on-chain capital behavior provided bottom support. On January 19, 2026, a whale address accumulated a total of 50,537 ETH within 24 hours, worth approximately $162 million, signaling a long-term supply tightening signal to the market. Meanwhile, staking ETFs continued to attract capital inflows, with a single-day net inflow of 13,889 ETH on April 24. Grayscale and Bitmine transferred about $500 million worth of ETH into staking contracts within 24 hours, reducing market circulating supply and creating a "supply squeeze" effect.

The macro environment still poses upward pressure. The strengthening of the U.S. dollar index weighs on risk assets, and stablecoin dominance breaking above 12.5% indicates heightened risk aversion among capital. ETH ETFs have recorded net outflows exceeding $712 million for three consecutive weeks, and institutional sentiment has not fundamentally improved.

If the daily closing price falls below $1,500, it may trigger subsequent selling, with the next support level at $1,385. Current trading volume remains low, and prices may experience sharp volatility due to insufficient liquidity. Attention should be paid to the performance of key support levels and changes in on-chain capital flows.