ETH 15-minute short-term rebound of 0.53%: technical oversold conditions combined with expectations for the Glamsterdam upgrade drive a short-term recovery

From 12:15 to 12:30 (UTC) on June 1, 2026, ETH generated a +0.53% return within 15 minutes, with a price range of 1,975.69 to 1,988.74 USDT and a swing of 0.66%. Short-term price action showed a technical correction, and market volatility expanded.

The main driver behind this move is rebound demand after technical oversold conditions. In May, ETH’s monthly return recorded -12.6%; the price fell from around $2,257 to around $1,977, and the short-term RSI has already dropped to the oversold area at 36. Historical data shows that after this reading, the probability of a price rebound is relatively high. Meanwhile, the Glamsterdam network upgrade is expected to be deployed in June; historical data indicates that in the 6 to 8 weeks before major upgrades, gains of 25%-40% are typically seen. Analysts say ETH is “brewing one of the best trades of 2026,” targeting a range of $2,600-$2,800.

Second, an on-chain supply-demand structure improving due to continued accumulation by long-term holders provides implicit support for price. Hodler net positions have remained positive since February 24, 2026, indicating that large holders are strategically building positions at current price levels. ETF outflow pressure has also eased temporarily: in the last week of May, the outflow intensity weakened, and market sentiment saw a partial recovery.

Short-term volatility risk should be watched: if ETH closes below $1,850 on the weekly chart, a broader bearish structure will be confirmed, with downside targets pointing to $1,560. June historical seasonality is relatively weak (in the past decade, only three times delivered positive returns), and ETF fund flows remain unstable. Going forward, key factors to monitor include the effectiveness of the $1,850 critical support, resistance from the cost-dense zone of $2,059-$2,075, and the actual deployment progress of the Glamsterdam upgrade.