ETH drops 0.43% in 15 minutes: Market sentiment remains weak, triggering a short-term technical correction

Between May 1, 2026, 14:15 and 14:30 (UTC), ETH showed a -0.43% return on the 15-minute candlestick chart, with the price falling back to the 2307.58 to 2320.75 USDT range, with an amplitude of 0.57%. Against the backdrop of overall market cautiousness (Fear and Greed Index at 29), this period was a routine technical correction, with no signs of liquidity exhaustion or panic selling.

The main driver of this fluctuation was short-term market sentiment volatility. The 4-hour candlestick indicates ETH was in a weak short-term correction pattern, with the 50-day moving average trending downward and the 200-day moving average trending upward, showing a divergence between short-term and long-term trends. The 14-day RSI was at 48.59, in a neutral to slightly weak zone. Without clear directional guidance, spontaneous profit-taking and wait-and-see sentiment in the spot market led to a slight price pullback.

Additionally, on-chain data shows no large funds dominating this movement. Exchange net inflows, bridging fund flows, and futures open interest (around $31.4 billion) showed no significant anomalies, with no signs of large holders liquidating or cross-chain fund flows. Funding rates remained stable, and long-short positions were relatively balanced, ruling out forced liquidations or long-short squeezes at the leverage level. Meanwhile, DeFi protocol TVL and mainstream DEX trading volumes showed no sudden changes. On a macro level, no major data releases or regulatory policy changes occurred, and the market structure remained intact.

Current volatility risk is relatively manageable, but attention should be paid to subsequent sentiment shifts. Short-term resistance is at $2320, with support at $2300. If large on-chain transfers or concentrated position changes occur, they could amplify volatility. Users should continuously monitor exchange net inflows, futures position changes, and large wallet movements on-chain, remaining alert to further weakening market sentiment and associated systemic risks.