July was quite successful for the second-largest cryptocurrency, with its price rebounding by 18.5%.

Many market observers expect much stronger upside ahead, with that progress potentially spilling over into the broader altcoin sector.

ETH’s Next Targets

The cryptocurrency made several attempts last month to reach the $2,000 psychological level but couldn’t succeed and currently trades at around $1,850. X user Ted paid special attention to that level, predicting a pump to $2K if that zone holds.

“Spot buying is happening, which is a good sign,” he added.

Michael van de Poppe shared a similar thesis. He assumed that holding $1,800 could lead to breaking the $2,000 barrier, and after that “it’s a fast run to $2,300 and higher.”

For their part, Celal Kucuker argued that ETH has “one of the strongest charts” the analyst has ever seen, envisioning an explosion to as high as $13,000 in 2026-2027. Rising to such a peak seems rather implausible considering the persistent bear market and the current prices, but crypto has surprised the community many times throughout its history.

According to the X user, the CLARITY Act could accelerate that move. The long-awaited US crypto bill is meant to give clear rules for digital assets, but its progress has stalled again after the White House failed to respond to a key counterproposal sent by Senators Thom Tillis and Ruben Gallego.

Meanwhile, the amount of ETH stored on centralized exchanges continues to hover around a 10-year low of 15.1 million coins, which supports the bullish perspective since it leads to reduced selling pressure.

Altcoins to Explode?

The analyst who goes by Dami-Defi on X presented another angle of the situation. They think ETH is about to break a one-year downtrend, which could be a precursor to a substantial rally and might be bullish for the broader altcoin sector.

X users Cup and Gordon also laid out their thoughts on the matter. The former believes that altcoins are poised for a serious pump, forecasting that the biggest breakout of this cycle is coming in the next few weeks.

The latter reminded that gold and silver already had their moments of glory, adding that “bonds are cooked,” while “stocks are looking weak.” That said, they moved their focus to the altcoins, claiming “this is where the biggest gains will be made next.”

Source: CryptoPotato