ETH 15-minute short-term rebound of 0.61%: technical oversold rebound aligned with short liquidation

From 07:15 to 07:30 UTC on June 18, 2026, ETH rebounded within 15 minutes by +0.61%. The price jumped from 1,734.65 USDT to 1,746.95 USDT, with a range of 0.71%. After a deep selloff in the prior period, the market showed a technical rebound, amplified by short-term short-covering and profit-taking, driving a quick rebound in the short term.

The main drivers behind this price move are the convergence effect between technical oversold repair and short liquidation. ETH’s RSI has recently been approaching 30 and is in a deeply oversold state, while the price is nearing a key technical support level of $1,909, sparking endogenous rebound demand. In addition, open interest is near historical highs; shorts chose to take profits around the key support level, and their covering buys further pushed the price higher.

Meanwhile, on-chain fundamentals support the rebound. Ethereum’s average daily transaction count is 1.851 million, up 34.01% from a year ago. Active addresses on the L1 network reached a two-year high, and TVL rebounded to about $86.04 billion, creating a divergence between fundamentals and price action and providing a fundamental basis for the rebound. Order book liquidity at 200 bps stood at $475.5 million; the relatively tight price range for liquidity means even a small amount of buying can trigger a price amplification effect.

What needs to be watched is that ETH ETFs have seen net outflows for 12 consecutive days, the longest outflow streak since March 2025, and institutional bid support continues to weaken. If the price breaks and holds below the $1,909 support level, it could open up a larger downside move. Investors should be cautious about the risk that price may come under renewed pressure after a short-term rebound.