ETH up 0.67% in 15 minutes: whale activity down 86% combined with technical oversold triggers short-term bounce

From 08:30 to 08:45 UTC on July 3, 2026, ETH rose 0.67% in 15 minutes, with a price range of 1717.72 to 1736.11 USDT and an amplitude of 1.07%. Against the backdrop of sustained price pressure recently, ETH saw a modest rebound, with increased market volatility but a recovery in trading activity.

The main driver of this unusual movement was reduced selling pressure due to a sharp decline in whale activity. According to on-chain data, the number of large ETH transactions plummeted from 2,194 on June 5 to 294 on June 17, a drop of 86.6%, indicating that large holders significantly reduced their trading frequency during that period, sharply decreasing market sell orders and providing room for the price rebound.

In addition, technical factors created a resonance effect. The RSI was in the oversold zone at 39.86, and the Fear and Greed Index fell to 19, an extreme fear level. Such extreme sentiment indicators are often seen as short-term bottom signals. Meanwhile, after testing key support in the 1700-1730 range, the price attracted bargain-buying funds. The stablecoin ecosystem also provided structural support, with approximately $307 billion worth of stablecoins running on Ethereum, continuously generating gas fee demand for ETH.

Current risks still need attention: ETH ETFs recently recorded 14 consecutive days of net outflows, with funds rotating from ETH to competitors like XRP and Solana. The 50-day and 200-day moving averages remain in a downtrend, posing technical resistance. Going forward, close attention should be paid to ETF fund flows, changes in large transaction activity, and the linkage effect of BTC’s overall trend on ETH.