ETH surged 1.86% in 15 minutes: Robinhood Chain’s Gas token narrative plus a short squeeze liquidation drove a short-term rebound

From 00:00 to 00:15 (UTC) on July 13, 2026, ETH surged 1.86% within 15 minutes. The price rebounded from 1,804.3 USDT to 1,845.81 USDT, with a swing of 2.30%. The rally was accompanied by a surge in trading volume, and market attention noticeably intensified.

The main drivers behind this anomaly are ongoing fundamental positives stemming from Robinhood Chain’s adoption of ETH as its native gas token. Fundstrat managing partner Tom Lee publicly commented that this choice further solidifies ETH’s position as “on-chain money,” strengthening market confidence in the long-term demand for ETH. Additionally, a major trading platform liquidated short positions totaling $2,135,000 at $1,824, and the short stop-loss trigger provided extra momentum for price upside.

From a technical perspective, both the daily and hourly moving averages are showing bullish signals. RSI remains in the neutral range of 52-56, indicating room for further upside. However, it’s important to note that order book depth is severely imbalanced: the buy/sell depth ratio is only 0.32. There is a large sell wall of 4.18 ETH at $1,831.66, accounting for 43.2% of the total volume at the top 5 order book levels. Near-term upside may face resistance around $1,840. On-chain active addresses have fallen to about 420,000, down 46% from the peak, suggesting weakening 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 the price breaks above $1,840 with supportive trading volume, the bullish trend could continue; otherwise, it may retest support. Investors should monitor changes in on-chain active addresses, the absorption of sell walls on the order book, and whether trading volume confirms the move.