ETH short-term upward movement of 1.77%: technical critical point and on-chain capital inflow resonate to drive the increase

2026-04-07 23:15 to 2026-04-07 23:30 (UTC), the ETH price rose 1.77% within 15 minutes, climbing from 2221.32 USDT to 2270.61 USDT, with a range of 2.21%. Market volatility has clearly intensified, on-chain activity is surging, and short-term capital has rushed in quickly, drawing widespread attention.

The main drivers behind this abnormal move are that the ETH price is approaching a key technical level (0.618 Fibonacci retracement support), combined with quantitative funds and short-term capital proactively buying the dip, which has helped form a strong buy-side force. Meanwhile, trading volume increased significantly; some short sellers were forced to stop out. After the price broke through a local resistance level, automatic position building and short covering were triggered, and quantitative strategies further boosted upward momentum.

In addition, on-chain data shows that during 23:15–23:30, transfers of large amounts increased. DeFi protocols and stablecoin funds switched to ETH, strengthening upward momentum. The total amount of ETH burned has accumulated to over 4.62 million tokens, and supply contraction provides marginal support for the price. At the same time, short-term macro liquidity has marginally improved: after-hours U.S. stock market funds flowed into crypto assets, creating a convergence in the funding picture. It’s worth noting that ETF inflows have been highly volatile, mainstream funds prefer BTC, and ETH’s ability to absorb structurally driven capital overall remains limited. Disagreements among large holders regarding positioning have intensified, and even after short-term gains, the market direction is still unclear.

With the current abnormal ETH move accompanied by amplified volatility, short-term risks have risen significantly. Going forward, it’s important to monitor whether the price can hold above the 0.618 Fibonacci key support (1,896 USD) and changes in on-chain capital flows, as well as large holders’ positioning and how well institutional funds can absorb it, along with the macro liquidity environment. Short-term volatility is easily affected by structurally driven capital and short covering, so it’s recommended to closely follow market developments and guard against the risk of a pullback.