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ETH Plunges 2.76% in the Short Term Amid a Technical Correction Following Overbought Conditions and Short Covering

From 05:00 to 06:00 UTC on August 22, 2026, ETH plunged 2.76% within one hour, with its price retracing into the 2,382.48–2,518.24 USDT range and its price swing reaching 5.40%. After surging approximately 18% on August 19–20, ETH is now undergoing a technical correction, with market volatility intensifying. The main driver of this move was the need for a correction following the previous sharp rally, which had pushed ETH into overbought territory. ETH’s daily RSI has reached an extremely overbo
ETH-6.50%
BTC-4.13%
BMNR-8.32%
GateNews·08-22 06:13
ETH Plunges 2.76% in the Short Term Amid a Technical Correction Following Overbought Conditions and Short Covering

BTC plunged 1.42% in one hour: The fading geopolitical risk premium coincided with an overbought pullback.

Between 05:00 and 06:00 UTC on August 22, 2026, BTC plunged 1.42% within one hour, retreating from a high of 78592.6 USDT to around 76500 USDT, with an amplitude of 2.67%, forming a clear spike-and-pullback pattern. Over the 24-hour period, BTC reached a high of $79,520 and had already fallen more than 3% from its intraday peak, as market sentiment rapidly shifted from strongly bullish to short-term profit-taking. The move was driven primarily by the combined effects of a marginal easing in geop
BTC-4.13%
GLDX0.34%
PAXG0.03%
GateNews·08-22 06:13
BTC plunged 1.42% in one hour: The fading geopolitical risk premium coincided with an overbought pullback.

BTC plunges 1.42% in 15 min: Geopolitical risks drove a surge followed by a retreat, while overbought 4h RSI triggered a technical correction

On August 22, 2026, from 05:00 to 05:15 UTC, BTC fell rapidly by 1.42% within 15 minutes, with its price retreating from 78,592.6 USDT to 76,500 USDT and volatility reaching 2.67%. BTC had previously touched an intraday high of 79,520 USDT, rebounding approximately 5.9% from the 24-hour low of 75,100.8 USDT and forming a typical spike-and-pullback pattern. The main drivers of this volatility were escalating geopolitical tensions in the Middle East and divergent risk-off sentiment stemming from t
BTC-4.13%
GLDX0.34%
GateNews·08-22 05:34
BTC plunges 1.42% in 15 min: Geopolitical risks drove a surge followed by a retreat, while overbought 4h RSI triggered a technical correction