ETH Nosedives 8% Before Rebounding on Strong Dip-Buying Activity

Ether Rebounds Quickly After Flash Crash as Trading Activity Surges

Ether plunged to $2,224 before rebounding to $2,292, fueled by trading volumes nearly five times higher than normal, helping the market stabilize rapidly.

On June 21, during the 21:00 hour, Ether (ETH) suffered a sharp flash crash, tumbling 7.56% from $2,406 to $2,224, according to data from CoinDesk Research’s technical analysis.

The steep drop triggered a flurry of trading, with over 751,000 ETH exchanged—about five times the average hourly volume.

However, strong buying interest quickly emerged around the $2,250 mark, lifting ETH back to $2,292. In the hour following the selloff, ETH rose modestly by 0.19%, moving from $2,287.54 to $2,291.92. A notable surge in volume at 05:58 sparked a 3.15% price increase, taking ETH from $2,283.94 to $2,291.09 on trades totaling 7,314 ETH. After this rebound, Ether’s price action formed an ascending channel marked by higher lows, reflecting renewed confidence and stabilizing market conditions.

Key Technical Takeaways

• ETH dropped 7.56% from $2,406 to $2,224 during the 21:00 hour on June 21.
• Trading volumes soared beyond 751,000 ETH—approximately five times the typical hourly average.
• At 05:58, ETH climbed 3.15% from $2,283.94 to $2,291.09 on 7,314 ETH traded.
• Price movement developed an ascending channel with higher lows post-crash.
• A new support zone formed near $2,290, while resistance appeared around $2,297 between 06:17 and 06:20.
• Elevated trading activity persisted throughout the recovery, signaling stronger liquidity.