ETH rebounds 0.86% in 15 minutes: oversold repair combined with key support test triggers technical buying

On June 26 at 13:30-13:45 UTC, ETH quickly rebounded within 15 minutes, with a yield of +0.86%, and the price recovered to the range of 1529.18-1548.63 USDT, with an amplitude of 1.27%. Earlier, the market experienced an extreme oversold phase, and the Crypto Fear & Greed Index dropped to the "Extreme Fear" range of 13-20, with increased volatility.

The main driver of this anomalous movement was technical rebound demand. On June 25, ETH fell 15% intraday, briefly breaking below $1,500, and after severe oversold technical indicators, there was a need for repair. Meanwhile, the validity test of the key support level at the $1,964 trendline triggered technical buying, pushing the price to stabilize and recover.

Additionally, multiple factors resonated. On-chain data shows that whales holding over 10,000 ETH accumulated more than 140,000 ETH between May and June, exchange reserves continued to decline, and large holders moved ETH to private wallets and staking protocols, reducing selling pressure supply. Between June 25 and 26, the market liquidated over $11 billion in positions within 24 hours. After the large-scale liquidation, risk exposure significantly decreased, creating room for price rebound. The total stablecoin supply remained at an all-time high of approximately $270 billion, providing ample "dry powder" that can be deployed into risk assets once market sentiment stabilizes.

Short-term risks to watch: In May, ETH spot ETF net outflow was $401.62 million; if outflows continue in June, it will pressure prices. ETH historically has an average return of -6.74% in June, and seasonal weakness may limit rebound space. Against the backdrop of macroeconomic tariff uncertainty, institutional investors are adopting tactical position allocation. Key focus should be on the stabilization of the $1,964 support level, ETF fund flows, and changes in market sentiment.