ETH rose 0.91% in 15 minutes: Technical support combined with short covering drove the rebound.

From 06:15 to 06:30 UTC on June 26, 2026, ETH rapidly rallied within 15 minutes, hitting a high of 1,561.13 USDT, with a daily gain of 0.91% and a range of 0.99%, trading in the 1,545.83-1,561.13 USDT range. This move occurred against the macro backdrop of overall pressure on ETH, but buying attracted after the price touched a key technical support level.

The main driver of this price rebound is technical rebound demand. ETH recently broke below the main bullish structure, trading below the 20-day, 50-day, and 100-day EMA lines, with RSI(14) at 41.2 in the oversold region, and Williams %R at 44.3 showing a buy signal. After the price dipped to the key support range of $1,650-$1,700, it attracted leveraged fund short covering and dip-buying, driving a rapid short-term recovery.

Meanwhile, on-chain whale activity provided liquidity support for the price. According to public data, whale wallets net absorbed nearly $950M worth of ETH in about a week, with a Venture-associated whale buying $42.6M worth of ETH near $1,655. Exchange ETH reserves continued to decline, with long-term holding wallets transferring ETH to cold wallets, reducing short-term selling pressure. Additionally, progress on the CLARITY bill legislation and confirmation of core development fund security marginally improved market sentiment.

On the risk side, ETH ETFs have seen sustained net outflows recently, with a single-day outflow of $66.04M on June 22; the Fed maintains a hawkish stance, with PCE data rising to 4.1%, and the macro environment remains restrictive. If the $1,650-$1,700 support level is lost, it may further decline to $1,520 and $1,405 levels. Short-term volatility risks persist; it is advised to monitor the gains and losses of key support levels and on-chain fund flows.