ETH rebounds on a 15-minute short-term chart, up 0.62%: a technical rebound combined with sell-pressure release drives the pullback to bottoming out

From 20:45 to 21:00 (UTC) on June 17, 2026, ETH saw a short-term rebound within 15 minutes, delivering a +0.62% return. The price range was 1735.4 to 1748.01 USDT, with a 0.73% amplitude. Against the backdrop of an overall 2.83% drop on the day, the market displayed signs of a pause in the decline and stabilization during this period, with noticeably rising attention.

The main driver behind this market move was technical rebound demand. ETH’s price fell steadily from around $1,988 at the start of June to about $1,745 at the day’s close, accumulating a drop of more than 12%. When the price approached the market consensus support area of $1,700–$1,800, some value-buying behavior was triggered. This was compounded by automated position closures and reverse opening from algorithmic trading strategies, pushing the short-term price up quickly.

Second, the staged clearing of sell pressure provided support to prices. According to market data, during the downtrend in early June, the total liquidation amount exceeded $236 million within 24 hours. Of that, long liquidations were about $225 million. After large-scale forced liquidations, short-term selling pressure eased significantly. At the same time, ETH exchange reserves rose sharply in early June and then leveled off, suggesting early sell pressure had been gradually released. In addition, the market drew attention to large intra-day transfer activity (with a total of over 30,000 ETH completed during the day). Some traders interpreted this as a potential sell-pressure signal or exchange rebalancing behavior, further influencing short-term price action. With multiple factors aligning, a short-term resonance formed, helping the price stop falling and rebound.

However, risk factors still warrant attention. Institutional funds continued to flow out of ETH ETFs. Over 12 consecutive days, net outflows hit the longest negative streak since March 2025. Over the past three weeks, cumulative outflows exceeded $712 million, indicating weak institutional demand. Meanwhile, the number of active ETH addresses has fallen by more than 50% since February, and on-chain usage activity has contracted significantly, weakening fundamental support. The current rebound strength is limited and occurring in a high-volatility environment. Unclosed open interest reaching a historical high indicates that divergence between longs and shorts has intensified. Investors should closely monitor the effectiveness of the $1,700 support level, changes in on-chain capital flows, and shifts in ETF fund flows to mitigate the risk of a pullback after a short-term spike.