ETH dropped sharply by 0.78% in 15 minutes: technical resistance test failure combined with institutional capital outflows exerting pressure.

From 01:30 to 01:45 (UTC) on July 8, 2026, ETH rapidly fell by 0.78% within 15 minutes. The price dropped from around 1773.42 USDT back to the 1749.88 USDT area, with an intraday range of 1.33%. This drop occurred in the early part of the Asian session, when market liquidity was relatively low, causing the price’s reaction to selling pressure to be amplified and market attention to heat up accordingly.

The main driver of this abnormal move was the failure of a technical resistance level test. Around 01:30 UTC, ETH attempted to push up through the 1770–1775 USDT range but did not succeed; it was then hit by dual pressure from profit-taking and stop-loss sell orders. The current Supertrend indicator is at 1803.65 USDT, and the 50-day EMA is at 1804.30 USDT. With a dual-resistance cluster constraining upside, short-term longs quickly exited.

In addition, after reaching a short-term high of 1830 USDT on July 6, ETH has been pulling back for two consecutive trading days. On July 7, it fell by 1.61%; on July 8, its intraday decline widened at one point to 0.79%. This drop is a continuation of the short-term corrective trend. At the same time, spot Ethereum ETFs recorded net outflows throughout June, indicating that institutional investors are taking a cautious stance toward ETH or reducing holdings, which creates ongoing downward pressure on prices. Coupled with ETH’s prior long-term weakness—three consecutive quarters of closing lower and a year-over-year decline of over 30%—market sentiment toward selling on rallies is strong, further amplifying the downside pressure from the technical side.

Currently, ETH is still below key resistance levels. In the short term, focus should be placed on whether support near 1750 USDT can hold effectively and how resistance around 1800 USDT performs. Meanwhile, spot ETF fund flows, on-chain whale address anomalies, and changes in macro news should be continuously monitored. Until the trend clearly turns around, the risk of short-term volatility remains high, and investors should be alert to the possibility that a technical pullback could further evolve into a breakdown to the downside. Stay tuned for more market updates to grasp the market’s rhythm in a timely manner.