ETH rebounds in the short term by 1.60%: technical correction and buy orders at support levels converge

From 16:45 to 17:00 (UTC) on June 5, 2026, ETH surged rapidly within 15 minutes, with a return of +1.60%. The price range was 1582.78 - 1612.17 USDT, with a volatility of 1.86%. This rebound came after three straight days of pullbacks exceeding 5%, and a technical correction signal appeared in the short term.

The main driver behind this move was demand for technical repairs. Between June 2 and 4, ETH fell from around $1,887 to $1,778. Over three days, the drop exceeded 5%. After the rapid decline, it hit the key technical support zone of $1,778 - $1,800, triggering some dip-buy orders to enter for a technical repair. On June 1, the liquidation amount for ETH long positions reached $84 million; short-term leverage deleveraging was fairly thorough. Once sell pressure temporarily dries up, a rebound is more likely.

In addition, large on-chain transfers sent a positive signal to the market. At 15:13 on June 5, a large transfer of 43,369.99 ETH moved out from a major trading platform to a non-exchange address, indicating that large holders transferred assets to cold wallets or long-term storage rather than selling immediately, which provides some support for the price. Meanwhile, the continuation of whale accumulation was also an important factor—addresses holding more than 10,000 ETH bought over 140,000 ETH during May. After the price retraced, large holders continued to absorb, providing bottom support.

It’s worth noting that although a short-term rebound of +1.60% occurred, the negative factors affecting ETH’s price have not fundamentally changed: US spot Ethereum ETFs saw net outflows of over $240 million in May, and net outflows accumulated to $471 million over the first three weeks of June. Persistent institutional fund outflows remain an upside headwind. Macroeconomic uncertainty and tighter overall crypto market liquidity continue to pose downside risks. The sustainability of this technical rebound needs to be validated by subsequent data, and short-term traders should watch whether the $1,800 support level holds and changes in on-chain fund flows.