ETH 15-minute short-term rebound 1.32%: extreme oversold conditions trigger a technical recovery, and short liquidations push the price back up

From 19:45 to 20:00 (UTC) on June 5, 2026, ETH rapidly rebounded within 15 minutes, with a return rate of +1.32%. The price ranged from 1,553.21 to 1,580.27 USDT, with a swing of 1.74%. The short-term price anomaly has drawn market attention, but overall it still remains in a weak range.

The main driving force behind this move is demand for a technical rebound after extreme oversold conditions. The RSI indicator fell to 18.3, significantly below the oversold threshold of 30, reflecting that the price drop was too large in the short term and there is room for a technical bounce. At the same time, the concentrated covering of short positions in the derivatives market is the key force directly pushing prices higher. On the day, derivatives trading volume reached $93.65 billion, 10.56 times the spot trading volume; many short positions chose to take profits when the price fell to key technical support levels.

Second, liquidity depletion has amplified the price volatility effect. The amount of ETH held by exchanges has fallen to a nine-year low of about 15.28 million coins. With relatively scarce market liquidity, even a relatively small buy order can drive large price swings. In addition, the Fear and Greed Index has dropped to an extreme fear level of 12, indicating that after sentiment reaches the extreme, there is demand for a rebound. Combined with the lack of supporting factors such as large-scale selling by long-term holders, multiple factors have converged to drive a short-term rebound.

It should be noted that the current rebound is unlikely to change the medium-term downtrend. The 50-day and 200-day moving averages are still trending downward, and the price remains below the key moving averages. Derivatives market open interest is as high as $23.67 billion; high-leverage positions are prone to trigger chain liquidations during volatility. Going forward, it is necessary to watch whether the $1,500 key support level holds, monitor changes in the long/short ratio in the derivatives market, and track on-chain fund flows, while staying alert to the risk of extreme short-term volatility.