At least three technical and historical indicators suggest the rally could extend into August.
Following a positive July, Ethereum’s August performance was:
- Positive in 3 of 4 cases: 75%
- Average return: +18.10%
- Median return: +22.05%
That is considerably stronger than ETH’s unconditional August record, which shows an average gain of 7.39% but a median loss of 4.54%. Ethereum’s history, therefore, leans bullish for August.
Ethereum Double Bottom Targets $2,180
Ether’s daily chart is showing a potential double-bottom reversal after forming two comparable lows near the $1,520 area in June and July.
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The setup would gain further credibility if ETH turns the $1,805 neckline into support during a pullback.
Conversely, a decisive close back below that level could weaken the breakout and expose the $1,700 area before a possible retest of the June–July lows.
ETH/BTC Cup-and-Handle Supports Further Dollar Gains
Ethereum may also outperform Bitcoin (BTC) in August, according to a potential cup-and-handle setup on the ETH/BTC daily chart.
The rounded cup formed between May and July, with its base near 0.0254 BTC and neckline around 0.0298–0.0300 BTC. A decisive daily close above 0.0300 BTC could confirm the breakout and send the pair toward 0.0345–0.0355 BTC, representing roughly 20% upside relative to Bitcoin.
That relative-strength breakout could reinforce ETH’s dollar rally, particularly if Bitcoin remains stable or rebounds. For example, a 20% rise in ETH/BTC alongside a flat BTC/USD rate would imply a similar gain in ETH/USD, potentially lifting Ether above $2,200.
However, a sharp Bitcoin decline could offset ETH’s relative outperformance and limit its dollar-denominated gains. The setup would weaken below 0.0285 BTC.