Ethereum (ETH) price is up slightly by 1.82% today, July 18, after the Chair of the US House Administration Committee, Bryan Steil, opined that the CLARITY Act bill could pass in the coming week. The bill’s passage will see ETH being classified as a digital commodity, a move that could bolster retail and institutional demand for the biggest altcoin.
ETH price traded at $1,845 at the time of writing. It is currently testing the support at the 50-day EMA, but bulls remain in control as this support holds.
US House Chair Eyes CLARITY Act Passage Next Week
While speaking in an interview with FOX Business, U.S. Representative Steil has said that the Senate could pass the CLARITY Act bill in the week between June 20 and June 24.
Steil says that this will be the week when the bill will go to the Senate floor for voting, and if senators vote in favor of it, the US might “set the gold standard” for regulating crypto assets like Ethereum and potentially drive price gains.
Steil’s remarks come shortly after reports that the final text for the CLARITY bill will also be released next week. This new text might include changes on ethics and stablecoin yields.
Steil’s remarks have increased the likelihood of the bill passing. Data from Polymarket shows that the odds that the CLARITY Act will pass in 2026 have increased from 30% on July 17 to 42% at the time of writing.
Ethereum Price Prediction as Bears Test Key Support Level
Ethereum price is testing the 50-day EMA support of $1,812 ahead of the crucial vote on the CLARITY Act bill that could officially classify ETH as a digital commodity if it passes.
If ETH price remains above this support, it could draw buyers that might push it to the 100-day EMA of $1,939. The buying pressure might come from the Senate passing the CLARITY Act.
The RSI reading of 57 also supports a bullish long-term Ethereum price prediction. This RSI is also making higher highs, suggesting that bulls are tightening their grip.
This bullish momentum might not only push ETH to the 100-day EMA of $1,939, but it could also trigger a move to $2,244. This is according to a previous Coingape Ethereum price analysis that detected a bullish double-bottom pattern forming on ETH’s daily chart.
But if ETH closes below this support of $1,812, the price might drop to the 20-day EMA of $1,791. That drop might be caused by the US Senate failing to get enough votes to push the CLARITY Act forward, a move that may trigger a bearish Ethereum price prediction.
Ethereum ETFs Post Highest Weekly Inflows Since April
Data from SoSovalue shows that there were $105 million inflows to spot Ethereum ETFs in the week between July 13 and July 17. This $105 million is the highest inflow that the ETFs have seen since April 2026.
The inflows suggest that institutions are getting more exposure to Ethereum price ahead of the CLARITY Act vote that would increase the regulatory clarity around ETH.
If the CLARITY Act passes, these spot ETF inflows could increase as institutions that were shying away because of regulatory uncertainty start buying ETH.
The institutional demand also comes amid an increase in Ethereum’s DeFi TVL that has increased from $36 billion on July 1 to $40 billion on July 17, per DeFiLlama.
This marks the first time that the TVL on Ethereum has gone above $40 billion since May 2026.
