ETH rebounds slightly over 1 hour, up 0.64%: RSI oversold conditions trigger a technical bounce

From 20:00 to 21:00 (UTC) on June 5, 2026, ETH posted a modest positive return of +0.64% within the hour. The price ranged from 1,557.44 to 1,591.41 USDT, with a 2.16% amplitude. This performance sharply contrasted with the day’s overall crypto market’s accelerating sell-off: Bitcoin’s RSI slid to 7.49, while ETH’s own daily RSI closed at 9.52, setting the most extreme oversold reading since February 2026.

The main driver behind this sudden move was a technical rebound from an extremely oversold condition. ETH’s daily RSI closed at 9.52 on June 5, below the level recorded during the sell-off on February 5, 2026—confirming systemic weakness. Ahead of the end of trading on Friday, some short-sellers chose to take profits, triggering short-term buy-side demand.

Meanwhile, the technical reaction in liquidity zones amplified volatility. According to the analysis, significant buy-side liquidity exists in the $1,940-$1,950 area. After ETH’s continuous decline, it entered this zone, triggering buy signals from parts of quantitative strategies. In addition, a rotation effect emerged in the altcoin sector—major coins such as XRP, SOL, and DOGE all saw TBO breakouts or key support levels fail. As ETH, the second-largest crypto by market cap, attracted some exiting capital, it created a temporary “safe-haven” effect.

It should be emphasized that this small positive return does not change ETH’s medium-term bearish trend. ETH has already confirmed two TBO breakouts, with the technical structure substantially damaged. The next downside target points to $1,385; once broken, it will further probe the $1,073 bear-flag projection target. Stablecoin dominance continues to rise (RSI is in the overbought zone), indicating that capital is flowing out of the crypto market. Investors should closely watch stablecoin dominance and Bitcoin’s price action, as these factors will determine ETH’s short-term direction; current volatility risk remains elevated.