Ethereum Bulls Eye $2,000 as Rally Enters Final Leg

Ethereum has seen one of its strongest months in 2026, with ETH price reaching $1,980 on July 27 and trading around $1,958 after a marginal pullback. The rally began near $1,540 in late June and has gained roughly 30% in 30 days.

The chart shows three phases of the rally: phase one, where ETH grounded sideways between June 24 and June 30; phase two, the breakout above $1,600 on July 1; and phase three, the grind higher from July 15 onward. The structure is intact, with higher highs, higher lows, and a flipped support level holding on every retest.

The RSI (Relative Strength Index) sits at 72.08, which is technically overbought territory. However, context matters here: RSI above 70 in a downtrend is a sell signal, but in a confirmed uptrend, it's a momentum confirmation.

Upside targets for Ethereum include $2,000, the obvious target; $2,070, the measured move; and $2,150 to $2,200, where ETH runs back into supply left behind from the late-May and early-June breakdown.