BTC
$102,673.11
–
0.74%
ETH
$2,283.47
–
5.90%
USDT
$1.0005
+
0.04%
XRP
$2.0780
–
2.63%
BNB
$633.36
–
1.24%
SOL
$135.37
–
3.64%
USDC
$1.0001
+
0.02%
TRX
$0.2731
–
0.48%
DOGE
$0.1567
–
3.66%
ADA
$0.5533
–
4.89%
HYPE
$33.86
–
2.69%
WBT
$48.44
–
0.99%
BCH
$460.81
–
2.03%
SUI
$2.5848
–
5.21%
LEO
$8.9670
+
0.28%
LINK
$12.03
–
4.77%
XLM
$0.2376
–
2.42%
AVAX
$16.95
–
3.38%
TON
$2.8646
–
3.04%
SHIB
$0.0₄1092
–
3.77%
By Siamak Masnavi, CD Analytics|Edited by Aoyon Ashraf
Jun 22, 2025, 6:56 a.m.
- ETH dropped 7.56% in one hour to a low of $2,224 before rebounding to $2,292.
- Hourly trading volume spiked to nearly 5x average, topping 751,000 ETH.
- Support formed around $2,250 and again near $2,290 during the recovery phase.
Ethereum (ETH) experienced a sharp flash crash during the 21:00 hour on June 21, falling 7.56% from $2,406 to $2,224, according to CoinDesk Research’s technical analysis model.
The sudden price drop triggered heavy trading activity, with more than 751,000 ETH changing hands—nearly five times the average hourly volume.
STORY CONTINUES BELOW
Despite the steep decline, buyer interest surged around the $2,250 level, helping the asset recover to $2,292. During the hour following the crash, ETH rose 0.19% from $2,287.54 to $2,291.92. A volume spike at 05:58 accompanied a 3.15% price jump on 7,314 ETH, establishing a new support zone near $2,290. The price action that followed formed an ascending channel with higher lows, signaling increased buyer engagement as conditions stabilized.
Technical Analysis Highlights
- ETH dropped 7.56% from $2,406 to $2,224 during the 21:00 hour on June 21.
- Trading volume spiked to over 751,000 ETH, nearly five times the typical hourly average.
- At 05:58, ETH surged 3.15% from $2,283.94 to $2,291.09 on 7,314 ETH volume.
- Price action formed an ascending channel with higher lows after the crash.
- A new support zone formed around $2,290, with resistance testing at $2,297 between 06:17 and 06:20.
- Volume remained elevated during the recovery, indicating improved liquidity.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Siamak Masnavi is a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends shaping the crypto market. He holds a PhD in computer science from the University of London and began his career in software development, including four years in the banking industry in the City of London and Zurich. In April 2018, Siamak transitioned to writing about cryptocurrency news, focusing on journalism until January 2025, when he shifted exclusively to research on the aforementioned topics.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
