ETH narrows upward by 0.65%: Global risk appetite increases combined with on-chain buying pressure driving the movement

On April 16, 2026, from 15:00 to 16:00 (UTC), ETH fluctuated upward within the price range of 2308.58-2330.16 USDT, achieving a +0.65% return with an amplitude of 0.93%. During this period, market volatility was moderate but attention increased, trading activity was locally amplified, reflecting short-term sentiment leaning toward positivity.

The main driver of this movement was a synchronized rise in global risk appetite, with macro funds flowing into risk assets, pushing the overall crypto market higher. On-chain data showed a significant increase in active addresses and trading volume for ETH, with amplified buying demand effectively supporting short-term price performance.

Additionally, during the movement, some whale addresses transferred funds into exchanges, creating phased selling pressure, but small-holder positions showed strong willingness to increase holdings, offsetting large-scale sell-offs. Meanwhile, the rebound in metal market prices signaled favorable policy and macro sentiment, and on-chain transaction structure optimization along with market capital flow dynamics resonated to amplify localized price fluctuations. Technical analysis indicates ETH remains within an upward channel, with key support levels unbroken, and buying activity leading the market rhythm.

Current market risks mainly focus on potential selling pressure after large funds further enter and increased short-term trading volatility. It is recommended to pay close attention to resistance above 2330 and support around 2235, while also monitoring whale fund movements and on-chain activity changes. Due to the volatility of macro sentiment and rapid short-term on-chain capital flows, investors should remain vigilant against sudden price pullbacks and stay alert for further market movements.