Ethereum (CRYPTO: ETH) is showing signs of a short-term rebound after recent weakness, while on-chain data suggests a wallet possibly linked to Arthur Hayes purchased ETH.

In an X post on June 15, blockchain tracker Lookonchain reported that a wallet possibly linked to Hayes received 3,000 Ethereum, worth approximately $5.42 million, from Flowdesk.

The transaction comes as Ethereum attempts to recover from a sharp decline, with traders watching whether the bounce can extend into a key resistance zone.

Over the past month, Ethereum has lost around 16% while the past week witnessed a 8% jump.

Hayes wrote. “The only reason Bitcoin rallied strongly off the November 2022 low is that the AI debt binge really kicked into gear starting in 2025.” 

However, Hayes is holding on to his BTC and ETH position arguing that they will benefit riding on the large monetary expansion driven by AI.

Technical analyst More Crypto Online explained on Monday that Ethereum’s latest rebound remains in line with expectations for a wave-two corrective bounce.

The analyst said Ethereum could move higher over the coming sessions but warned that the broader pressure remains to the downside.

He identified the main resistance range between $1,815 and $2,226, adding that a dynamic descending trendline remains one of the most important barriers for bulls.

“I treat this as a dead-cat bounce,” the analyst said.

Crypto chart analyst Ali Martinez noted on X on June 15 that Ethereum is forming a potential ascending triangle, a bullish chart pattern that signals growing buying pressure. If the breakout is confirmed, the setup points to a possible move toward the $1,850 level.

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