Ethereum has bounced back toward $1,691 after briefly touching lows near $1,505 last week. The token is up around 1.4% over 24 hours, trading in a range between $1,656 and $1,713.
The recovery has not yet broken the downtrend that has been in place since April. Ethereum still sits below key resistance levels that would need to fall for the trend to change.
The $1,700 to $1,715 area is the first short-term hurdle. A daily close above it could open a path toward $1,875, then the $1,900 to $2,000 zone. Ethereum would need to hold above those levels before any trend change can be confirmed.
Analyst Ash Crypto drew a comparison between the current chart and Ethereum’s June 2022 breakdown, when ETH fell to $880 before recovering. He noted that ETH has 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. He warned that a weekly close below $1,500 could leave the next clear support near $1,000.
$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
Crypto analyst Ali Charts posted on X that Ethereum trading below the 0.8 MVRV pricing band is a “high-probability long-term accumulation zone,” adding “Buy the dip.” He also reported a TD Sequential buy signal two days ago, which can indicate seller exhaustion, though it does not confirm a reversal.
Ethereum $ETH below the 0.8 MVRV Pricing Band is a high-probability long-term accumulation zone.
Buy the dip! https://t.co/LNkygeXO5n pic.twitter.com/2GYDUzFnQi
— Ali Charts (@alicharts) June 8, 2026
On-chain data backs up the stress. Only about 11% of Ethereum’s supply currently holds a threefold profit, the lowest reading since February 2017.
BitMine Immersion Technologies made its largest weekly Ethereum purchase of 2026, buying 126,971 tokens during the recent dip. That brings its total holdings to 5,543,872 ETH, or about 4.59% of Ethereum’s estimated supply.
The company values its ETH position at roughly $9.04 billion. Chairman Tom Lee said annualized staking revenue has reached a projected $230 million, with 4.7 million ETH currently staked.
ETF flows tell a different story. U.S. spot Ethereum ETFs saw $540 million in outflows in May and another $168 million in early June. However, June 8 saw $82.37 million in daily net inflows, lifting cumulative totals to $11.28 billion with total net assets at $9.36 billion.
The MACD line sits at -141.09, below the signal line of -118.04. The Aroon Oscillator reads -78.57, confirming sellers remain in control. Immediate support sits at $1,650, with $1,580 and $1,505 below that.
The post Ethereum (ETH) Price: Rebounds 14% as BitMine Buys the Dip — What’s Next? appeared first on CoinCentral.
