Foreign media report that ETH is still consolidating below $1,900, with market focus shifting from the short-term rebound in July to validating the price action from August to October. Analysts suggest this phase will better determine whether Ethereum continues its recovery or resumes weakness.
In July, watch first for $2,000 to $2,100.
The article cites analyst Benjamin Cowen’s assessment that if July continues the historically strong performance seen in midterm election years, ETH still has the potential to rise further, possibly testing the $2,000 to $2,100 range in the short term.
He believes that Ethereum does not necessarily need to wait for Bitcoin to complete its bottoming process. In the previous cycle, Bitcoin reached a lower low, while ETH formed a higher low, indicating that the two assets do not always synchronize at阶段性 bottoms.
The ETH/BTC price trend remains under close attention.
Cowen also considers the ETH/BTC pair an important indicator to watch. The article states that this exchange rate has repeatedly tested near the support zone during previous bull markets, but each time it broke above, it failed to sustain the gains.
He also monitors ETH/BTC encountering resistance near the 20-month moving average. If this resistance remains valid, Ethereum’s relative strength against Bitcoin may struggle to continue, limiting its potential for independent rebound.
August to October may determine the restoration of condition.
The article suggests that the real test may come between August and October. If Bitcoin retraces its July gains or declines further, ETH could face similar pressure. Under a bearish scenario, if ETH first rises to $2,000–$2,100 before dropping approximately 40%, the price could fall to the $1,200–$1,300 range.
However, other analysts remain bullish. Michaël van de Poppe believes that if $1,800 holds, ETH still has upside potential; Daan Crypto Trades views $1,750 as a key support level and targets $2,100 as the next major resistance; Ted Pillows states that if ETH stabilizes above $1,850, it could still rise by approximately 10%.
Overall, the core of this commentary hinges on whether key support can be maintained in the third quarter. If the $1,750 to $1,800 range holds steady, market expectations for testing higher resistance levels will persist; if it breaks down, the short-term recovery momentum may slow.