The world’s largest altcoin felt the pain of the overall market weakness over the past week, dropping to just over $1,500 for the first time in well over a year.

The asset remains below key support levels, including $1,800, which holds a particular significance in its long-term potential, according to popular analyst Michaël van de Poppe.

ETH Below $1.8K Means…

The market observer believes ETH sliding below $1,800 is a “massive opportunity” and that day traders should avoid it, as it’s “not really attractive” here. The chart below paints a clear picture, showing that the asset has been in a clear downtrend for months. It peaked at almost $5,000 last summer, but it has plunged by nearly 70% since then to the current $1,600.

However, there’s finally light at the end of the tunnel as the asset is “making a potential strong bullish divergence on many levels that would indicate that ETH is going to follow Bitcoin.”

Perhaps the biggest catalyst for future price gains in the crypto market, especially for tokens like ETH, which some analysts believe would benefit more than BTC, is the CLARITY Act. The bill, expected to be signed into law in the US this year, should increase regulatory clarity on the entire market in the US.

Van de Poppe says ETH is currently following a classic “sell the rumor, buy the news” type of price action. He also named $1,505 and $1,385 as the next levels at which ETH would present a “tremendous buying opportunity” if it gets there. Overall, though, he believes markets are not eager to go down more, and he doubts ETH will drop to those levels.

“I much rather see a clear breakthrough at $1,800 and see these levels as strong opportunities to be accumulating more positions.”

3 in a Row

Ethereum’s native token is just days away from creating history but in a negative manner by ending a third consecutive quarter in the red. Despite its previous bear cycles, it has never done this but it would require nothing short of a miracle to avoid it now. It closed with a 28.28% drop in Q4 2025, another 29.26% decline in Q1 2026, and is down by more than 24% in Q2 as of press time.

With June almost gone, investors have focused on July now. Ted Pillows brought some hope for the bulls, indicating that ETH has historically seen a bounce back in July. This has been particularly true in 2020, 2021, 2022, and 2025. ETH has posted notable gains in those July, all of which followed a red June.

Source: CryptoPotato