ETH surged 1.86% in 15 minutes: Robinhood Chain selected for the Gas token narrative, combined with short liquidations driving a short-term rebound

From 00:00 to 00:15 UTC on July 13, 2026, ETH surged sharply by 1.86% within 15 minutes. The price rebounded from 1,804.3 USDT to 1,845.81 USDT, with a volatility of 2.30%. The rise coincided with increased trading volume, and market attention noticeably intensified.

The primary driver behind this anomaly is sustained fundamental optimism due to Robinhood Chain adopting ETH as its native Gas token. Tom Lee, a managing partner at Fundstrat, publicly commented on the move, stating it further strengthens ETH’s position as an “on-chain currency” and bolsters market confidence in the long-term demand thesis for ETH. Additionally, a major trading platform liquidated short positions worth $213.5 million at $1,824, with the short stop-loss trigger providing extra momentum for the upward move.

Technically, both the daily and hourly moving averages indicate bullish signals. The RSI remains in a neutral range of 52–56, suggesting room for further upside. However, order book depth is severely imbalanced: the buy/sell depth ratio is only 0.32. There is also a large sell wall of 4.18 ETH at $1,831.66, accounting for 43.2% of the total volume at the top five order book levels, indicating that short-term upside may face resistance around $1,840. On-chain active addresses have decreased to about 420,000, down 46% from the peak, indicating weaker participation and posing a near-term concern. Meanwhile, Polymarket’s introduction of a TWAP settlement mechanism aims to reduce price manipulation, indirectly improving market fairness expectations.

Volatility risk remains. Key levels to watch are the $1,840 resistance and the $1,718 support. If trading volume supports a breakout above $1,840, the bullish trend may continue; otherwise, the price could pull back toward support. Investors should monitor changes in on-chain active addresses, whether the large sell wall in the order book is absorbed, and whether trading volume confirms the move.