ETH rises 0.47% in 15 minutes: Key technical levels hold as whale accumulation boosts a short-term rebound

From 22:15 to 22:30 (UTC) on June 1, 2026, ETH rose by +0.47% within 15 minutes. The price range was 1989.39-2003.19 USDT, with a volatility of 0.69%. This increase was significantly higher than the intraday volatility range, indicating relatively concentrated buying pressure entering the market. Technical rebound demand appeared near key technical support levels.

The main drivers behind this abnormal move are dual support from technical factors and on-chain fundamentals. On the day, the price hovered in the $1,990-$2,000 range, close to the $1,964 key trendline support level, which triggered buy orders at support and partial short-covering. Meanwhile, whales continued net buying during the 12% ETH price drop in May, accumulating more than 1 million ETH (about $2.04 billion). Whale holdings reached a recent high of 125.17 million ETH, and professional capital accumulating against the trend provided a fundamental anchor for the price.

In addition, network activity remained at a historical high, supporting the price. In December 2025, single-day transaction volume hit a ten-year historical high of 2,230,801 transactions. Q4 smart contract deployment volume set an all-time record of 870 million. High network usage reflects real demand growth. After ETF net outflows for 5 consecutive months accumulated to over $24 billion, early June saw marginal relief from outflow pressure. Funding rates in the futures market remained relatively neutral, and market structure showed marginal improvement.

Current risks to watch: if ETH breaks below the $1,964 support level, it will confirm a bearish pattern, with the target possibly pointing to $1,545. The average return in June historically is -6.74%, making seasonal factors bearish. If the ETF outflow trend restarts, it may further weigh on the price. Investors should closely monitor whether the $1,964 support holds and the on-chain whale capital flow direction.