ETH Tumbles 8% in Rapid Sell-Off, Recovers Quickly Amid Buying Pressure

Ether Recovers Swiftly After Steep Flash Crash, Signals Renewed Buyer Interest

Ether dropped sharply to $2,224 before recovering to $2,292, as trading volumes soared to five times their average levels, helping drive a rapid rebound.

On June 21 during the 21:00 hour, Ether (ETH) saw a sudden flash crash, plunging 7.56% from $2,406 to $2,224, according to CoinDesk Research’s technical analysis data.

The abrupt decline unleashed intense trading activity, with over 751,000 ETH traded—nearly five times the usual hourly volume.

Despite the steep sell-off, strong demand emerged near the $2,250 mark, enabling ETH to climb back to $2,292. In the hour following the drop, ETH inched up by 0.19%, moving from $2,287.54 to $2,291.92. At 05:58, a spike in trading volume saw ETH surge 3.15%, jumping from $2,283.94 to $2,291.09 on a trade volume of 7,314 ETH. Price action following the rebound formed an ascending channel with higher lows, reflecting renewed buying momentum as the market stabilized.

Key Technical Highlights

ETH fell 7.56% from $2,406 to $2,224 during the 21:00 hour on June 21.
Trading volume exceeded 751,000 ETH—close to five times the typical hourly average.
At 05:58, ETH rose 3.15% from $2,283.94 to $2,291.09 on 7,314 ETH traded.
Price movements established an ascending channel with higher lows post-crash.
A new support zone formed near $2,290, while resistance was tested around $2,297 between 06:17 and 06:20.
Elevated trading volumes persisted through the rebound, indicating stronger market liquidity.