Ether Rebounds After Sharp Flash Crash as Buyers Step In

Ether briefly plunged to $2,224 before rebounding to $2,292, with trading volumes surging to five times the usual levels, fueling a rapid recovery.

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

The sudden drop unleashed a wave of trading activity, as over 751,000 ETH traded hands—close to five times the typical hourly volume.

Despite the steep fall, strong buying interest emerged around the $2,250 mark, propelling ETH back to $2,292. In the hour after the crash, ETH inched up 0.19%, rising from $2,287.54 to $2,291.92. A notable volume spike at 05:58 triggered a 3.15% rally, lifting the price from $2,283.94 to $2,291.09 on 7,314 ETH traded. Following this rebound, ETH price movements carved out an ascending channel with higher lows, suggesting growing buyer confidence as the market regained stability.

Technical Analysis Highlights

• ETH fell 7.56% from $2,406 to $2,224 during the 21:00 hour on June 21.
• Trading volume surged above 751,000 ETH, nearly five times the normal hourly average.
• At 05:58, ETH jumped 3.15% from $2,283.94 to $2,291.09 on 7,314 ETH volume.
• Price action established an ascending channel marked by higher lows post-crash.
• A new support zone solidified near $2,290, while resistance was tested at $2,297 between 06:17 and 06:20.
• Elevated volumes persisted during the recovery, signaling improved market liquidity.