Ethereum price rose 1.8% to $1,845 after Rep. Brian Steele raised hopes for a Senate vote on the CLARITY Act next week, while ETF inflows and strong chart support kept traders cautiously bullish.
summary
- Ethereum price rose 1.8% as Brian Steele raised hopes for a vote on the CLARITY Act next week.
- Ethereum spot ETFs recorded weekly inflows of $105 million, the highest level since April.
- ETH must defend the $1830 level and break the $1854 level to target the $1947 resistance area.
Steele, who chairs the House Financial Services Subcommittee on Digital Assets, told FOX Business that the bill could reach the Senate floor as soon as next week. The passage could place ETH within the framework of digital goods and establish federal rules for its trading and supervision.
During a hearing on July 17, Steele urged lawmakers to complete the legislation as the Senate prepares to consider it. “Let’s pass the clarity,” he said in remarks published by the House Financial Services Committee.
Polymarket traders raised the probability of the bill becoming law in 2026 to 39% from 30% on July 17. However, unresolved disputes over ethical rules and stablecoin returns have kept the odds below 50%.
Institutional flows also improved. SoSoValue Data It showed that Ethereum ETFs attracted $105 million from July 13 to July 17, their strongest weekly inflow since April.
Ethereum’s decentralized finance activity has grown alongside demand for ETFs. DeFiLlama estimated the network’s total value at about $40.5 billion, up from about $36 billion at the beginning of July. The network also processed $978.9 million in decentralized exchange volume and 2.46 million transactions in the past 24 hours.
Ethereum must break above the $1,854 level to reopen the path towards $1,947
The daily chart of Ethereum shows a double bottom structure forming around the $1,511 area, with a neckline near $1,847. ETH briefly rose to $1,947 before returning to test the neckline, which now overlaps the 0.786 Fibonacci retracement at $1,853.82.
A daily close above $1,854 would bring back the recent high at $1,947 and the 100-day EMA near $1,939. The double bottom structure has a measured target near $2,180, while cryptocurrency analyst Michael van de Poppe is forecasting $2,200 to $2,400 if the $1,780 support remains intact.
Daily momentum remains in favor of buyers, although the pace has slowed. The MACD line is at 35.57, above the 21.69 signal line, while the positive histogram has narrowed to 13.88. The RSI is at 57.15, leaving ETH under the overbought zone.
On the 4-hour chart, Ethereum (Ethereum) remains within the upward channel that has led the recovery since late June. The lower bound and previous Supertrend support meet around $1830, while the upper bound extends towards $2040. Chaikin Money Flow remains positive at 0.07, but active supertrend resistance at $1,908 must fall before buyers can retest the July high.
CoinGlass’s 48-hour heatmap places the closest leverage-heavy pool between $1,860 and $1,870. There are more trades around $1,900, while bearish liquidity has accumulated near $1,810 and $1,790.
According to For analyst Ted Bellows, the area between $1,820 and $1,850 will determine the next move for ETH.
“If Ethereum price continues above it, expect another uptrend towards $1,950-$2,000.”
A break below the $1,780 level will dampen Ethereum’s recovery
Ethereum will lose its 4-hour channel if sellers are forced to close below the $1830 level. Such a move would expose the 50-day moving average near $1,812 and could trigger long-term leveraged liquidations around $1,810.
A deeper decline below the 61.8% Fibonacci level at $1,780.64 would weaken the double bottom formation and open the 50% retracement levels at $1,729.24. Cushions also pointed to the escalating situation between the US and Iran as a risk to the $1,820-$1,850 support area.
Political uncertainty remains another invalidation risk. Failure to solve Ethics law clarity The stablecoin provisions could delay a Senate vote, removing the immediate catalyst behind ETH’s rebound, and putting the $1,780 support under renewed pressure.
Disclosure: This article does not constitute investment advice. The content and materials contained on this page are for educational purposes only.
