Ethereum’s Worst Month May Have Set Up Its Best — One Analyst Targets $3,400 By August

Ethereum ((ETH) hit $1,500 in June — its lowest level in fourteen months— capping what became one of the worst months the second-largest cryptocurrency has had in the current bearish cycle. But a growing number of analysts think that low may have set up something different entirely. If history is any guide, August could look very different.

The Same Pattern That Called ETH’s 2022 Bottom 

In a post on X (Previously Twitter), Ash Crypto pointed to what happened in the 2022 bear market. Ethereum bottomed in June of that year at $881, then rallied 128% from July through August. November brought a pullback — but the June low held and was never broken.

$ETH to $3,000+ in August?

In the 2022 bear market:

June – $ETH forma cycle bottom of $881
July to August – ETH rallied 128%.
November – It pulled back but never broke the June low.

So far, this cycle is starting to look similar.

If history repeats and $1,500 is the cycle… pic.twitter.com/d3nQGR1LkK

— Ash Crypto (@AshCrypto) July 3, 2026

The current cycle, he argued, is starting to look similar. If $1,500 holds as the cycle low, a repeat of that 128% move from the June bottom would put the Ethereum price around $3,400 by August. However, the analyst’s more grounded view is that $2,400 to $2,800 is very possible — a range that would still represent a 58% gain from ETH’s current level of around $1,770. 

Michaël van de Poppe went further on Saturday, saying plainly that the worst for altcoin is over. His analysis rests on three observations. ETH against Bitcoin (BTC) is breaking out upward and building a higher low — a technical signal that suggests the downtrend has ended and an uptrend is forming. 

Three consecutive red quarters have now passed, and van de Poppe noted that statistically, four red quarters in a row is an uncommon outcome, as part of his bullish outlook for the altcoin. 

The third factor is the CLARITY Act — the crypto market structure bill moving through the Senate. If passed, van de Poppe argued it would unlock a meaningful flow of new liquidity into the Ethereum ecosystem.

The Bill That Could Send Ethereum To New Highs 

That last point connects to an argument reported separately by Dominic Basulto of The Motley Fool. The CLARITY Act matters for Ethereum specifically, he wrote, because it would clarify the regulatory framework for banks, corporations, and financial institutions looking to build on blockchain infrastructure. 

The result, in his view, would be substantial growth across the ETH ecosystem. He pointed to a recent precedent to make the case. When the GENIUS Act — the stablecoin legislation — passed the Senate in June of last year, Ethereum’s price began climbing. By the end of that summer it had reached its current all-time high of $4,954.

Galaxy Research currently puts the odds of the bill passing this year at 50-50. Bloomberg Intelligence is slightly more optimistic, estimating a 60% chance of passage this month. 

Neither figure makes it a certainty. The bill still needs a merged text from the Banking and Agriculture committees, a floor vote requiring at least 60 senators, and House action after that — all before the August recess.

Featured image generated with OpenArt.