Ethereum recovered toward $1,700 after falling close to $1,500 during last week’s sell-off.
The move eased immediate pressure, but price remains within a broader downtrend and has not confirmed a lasting reversal.
Ethereum traded near $1,691 at the time of writing, up about 1.4% over 24 hours (per crypto.news data). The token moved between roughly $1,656 and $1,713. Its next direction may depend on whether buyers reclaim $1,900 to $2,000 or sellers force another test of $1,500.
Ethereum price rebound remains below major resistance
The latest recovery started close to the recent low rather than after a clear break above resistance. This keeps the rebound corrective while Ethereum remains below the descending structure that has controlled price since April. The $1,700 to $1,715 area is the first short-term barrier.
A daily close above that zone could allow buyers to target $1,875 before the broader $1,900 to $2,000 resistance range. Ethereum would need to hold above those levels to show that market structure has started improving.
The $1,650 area offers immediate support. Below it, traders may focus on $1,580, $1,540, and the June low near $1,505. Volume stood near 100,260 $ETH during the observed period, showing strong participation during the decline.
MACD and Aroon keep the bearish structure intact
Ethereum’s MACD remains below its signal line. The MACD line stands near -141.09, while the signal line sits around -118.04. The histogram remains negative at about -23.05, showing that downside momentum has not fully faded.
A bullish change would require the MACD line to turn higher and cross above the signal line. A shrinking negative histogram could provide an early sign that selling momentum is weakening. The current readings do not yet provide that confirmation.
The Aroon Oscillator stands at -78.57. This shows that Ethereum has recorded recent lows more often than recent highs. It supports the view that sellers still control the wider structure despite the bounce from $1,500.
The indicators do not set a precise bottom. Ethereum could still produce a relief rally from oversold conditions, but buyers need higher lows and a break above resistance to change the trend reading.
The $1,500 level separates recovery from deeper losses
Ash Crypto compared the current chart with Ethereum’s June 2022 breakdown. Ethereum fell to $880 during that period before beginning a long recovery. The analyst noted that $ETH has now dropped about 68% from its August 2025 peak near $4,953.
“If $ETH holds $1,500, this could play out exactly like June 2022,” Ash Crypto said.
The analyst also warned that a weekly close below $1,500 could leave the market without clear support until the $1,000 region.
$ETH has only done this once before in its entire history.
Back in June 2022, $ETH broke through every support level and crashed to $880. Everyone gave up on it. That turned out to be the exact bottom of the whole bear market.
Now it’s June 2026, the same month, same breakdown,… pic.twitter.com/v8IulXZuPl
— Ash Crypto (@AshCrypto) June 8, 2026
The comparison describes a possible path rather than a confirmed repeat. Market liquidity, interest rates, institutional flows, and Ethereum’s supply structure differ from 2022. The weekly 200 moving average near $2,471 may also act as resistance during a wider recovery.
Ali Martinez offered a more positive long-term reading. He said Ethereum trading below the 0.8 market-value-to-realized-value pricing band has historically marked an accumulation area. Just 2 days ago, he also reported a TD Sequential buy signal, which can point to seller exhaustion but does not guarantee a reversal.
BitMine accumulation meets weak ETF demand
BitMine Immersion Technologies bought 126,971 $ETH during the latest weekly decline, its largest weekly purchase of 2026. The acquisition raised its holdings to 5,543,872 $ETH, equal to about 4.59% of Ethereum’s estimated supply.
The company valued its $ETH position near $9.04 billion using a reference price of $1,630. It also reported that 4,718,677 $ETH remained staked. Chairman Tom Lee said annualized staking revenue had reached a projected $230 million.
BitMine’s purchase provides corporate demand, but exchange-traded fund flows remain weak. As previously reported by crypto.news, U.S. spot Ethereum ETFs recorded about $540 million in outflows during May and another $168 million during early June.
However, according to SoSoValue data, the funds recorded $82.37 million in daily net inflows on June 8, lifting cumulative inflows to $11.28 billion and total net assets to $9.36 billion.
On-chain profitability also remains strained. As previously reported, only about 11% of Ethereum’s supply held a threefold profit, the lowest share since February 2017. That reading may signal capitulation, but it also shows holders have less profit protection if prices fall again.
Ethereum now needs to hold $1,650 and clear $1,715 to extend the rebound. A stronger recovery would require a move through $1,900 and $2,000. Failure to defend $1,500 on a weekly close would bring the $1,000 to $1,100 region back into view.
