Ethereum has rallied towards $1,700 after falling to nearly $1,500 during last week’s sell-off.
Although this move has relieved some immediate pressure, prices remain within a broad downtrend with no confirmed permanent reversal.
Ethereum is trading near $1,691 at the time of writing, up about 1.4% in 24 hours (according to crypto.news data). The token hovered between approximately $1,656 and $1,713. The next direction may depend on whether buyers recoup $1,900 to $2,000 or sellers force another test of $1,500.
Ethereum price rebound remains below key resistance levels
The recent recovery started near recent lows, rather than after a clear break above resistance. This allows Ethereum to break below the downward structure that has dominated the price since April, while the rebound correction continues. The $1,700-$1,715 area will be the first hurdle in the short term.
If the daily close is above that zone, buyers could target $1,875 before the broader resistance range of $1,900 to $2,000. Ethereum will need to sustain above these levels to show that the market structure is starting to improve.
Immediate support is provided in the $1,650 area. Below that, traders may focus on $1,580, $1,540, and the June low near $1,505. Volume reached nearly 100,260 $ETH During the observed period, it showed strong involvement during decline.
MACD and Arun maintain bearish structure
Ethereum’s MACD remains below the signal line. The MACD line is near -141.09 and the signal line is near -118.04. The histogram remains negative at around -23.05, indicating that the downside momentum has not completely disappeared.
A bullish change requires the MACD line to rise and cross above the signal line. A shrinking negative histogram can be an early sign that selling momentum is weakening. Current measurements do not yet provide confirmation of this.
Aroon Oscillator is -78.57. This shows that Ethereum records recent lows more often than recent highs. This supports the view that sellers remain in control of the broader structure despite the rebound from $1,500.
The indicator does not set an exact bottom price. Ethereum can still recover from the oversold situation, but buyers will need to break through higher lows and resistance to change their view of the trend.
The $1,500 level is the difference between recovery and further losses
Ash Crypto compared the current chart to Ethereum’s June 2022 breakdown. During this period, Ethereum fell to $880, after which a long recovery began. Analysts pointed out that: $ETH It is currently down about 68% from its August 2025 peak of around $4,953.
“if $ETH Since you have $1,500, this could play out exactly like June 2022,” Ash Crypto said.
The analyst also warned that if the weekly close falls below $1,500, the market may no longer have clear support in the $1,000 area.
$ETH This has only happened once in its entire history.
Fast forward to June 2022. $ETH It broke all support levels and crashed to $880. Everyone gave up on it. It turned out to be the very bottom of the entire bear market.
Now it’s June 2026, same month, same breakdown… pic.twitter.com/v8IulXZuPl
— Ash Crypto (@AshCrypto) June 8, 2026
This comparison shows possible paths rather than confirmed repeats. Market liquidity, interest rates, institutional flows, and Ethereum supply structure will be different in 2022. The weekly 200 moving average near $2,471 could also act as resistance during a broader recovery.
Ali Martinez offered a more positive long-term view. He said that Ethereum transactions below the market value to realized value price band of 0.8 have historically marked accumulation territory. Just two days ago, he also reported a buy signal for TD Sequential. This may indicate seller exhaustion, but does not guarantee a reversal.
BitMine accumulation responds to weak ETF demand
BitMine Immersion Technologies bought 126,971 $ETH The recent weekly decline resulted in the largest weekly purchase of 2026. The acquisition increased the number of shares held to 5,543,872 shares. $ETHrepresenting approximately 4.59% of Ethereum’s estimated supply.
The company valued its value $ETH Using a base price of $1,630, the position would be around $9.04 billion. It also reported 4,718,677 people. $ETH The stakes remained high. Chairman Tom Lee said annual staking revenue reached an expected $230 million.
Bitmine acquisition generates corporate demand, but exchange-traded fund flows remain weak. As previously reported by crypto.news, the US Spot Ethereum ETF recorded approximately $540 million in outflows during May, and another $168 million in outflows in early June.
However, each fund recorded daily net inflows of $82.37 million on June 8, increasing cumulative inflows to $11.28 billion and total net assets to $9.36 billion, according to SoSoValue data.
On-chain profitability continues to be difficult. As previously reported, only about 11% of Ethereum’s supply held triple profits, the lowest share since February 2017. While this number may indicate capitulation, it also indicates less protection for holders’ interests should prices fall again.
Ethereum currently holds $1,650 and needs to clear $1,715 to extend the rebound. A stronger recovery would require a break above $1,900 and $2,000. If the weekly closing price fails to maintain the $1,500 level, the $1,000 to $1,100 region will be back in the picture.
