{"id":20095,"date":"2025-04-01T19:31:57","date_gmt":"2025-04-01T19:31:57","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20095"},"modified":"2025-04-01T19:31:57","modified_gmt":"2025-04-01T19:31:57","slug":"ethereum-prints-4-consecutive-red-monthly-candles-but-data-points-to-an-eth-btc-bottom","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20095","title":{"rendered":"Ethereum prints 4 consecutive red monthly candles, but data points to an ETH\/BTC bottom"},"content":{"rendered":"
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\"Ethereum<\/p>\n

Ethereum\u2019s native token, Ether (ETH)<\/a>, registered four consecutive red monthly candles after the altcoin dropped 18.47% in March. The altcoin\u2019s current market structure reflects a sustained bearish trend not seen since the bear market of 2022. <\/p>\n

With each monthly close taking place below the previous month\u2019s low, analysts are beginning the debate about whether ETH is approaching a bottom or if there is more downside ahead for the altcoin. <\/p>\n

Ethereum\/Bitcoin ratio hits new 5-year low<\/h2>\n

On March 30, the Ethereum\/Bitcoin ratio dropped to a five-year low of 0.021. The ETH\/BTC ratio measures ETH\u2019s value against Bitcoin (BTC)<\/a>, and the current decline underlines Ether\u2019s underperformance against Bitcoin over the past five years. <\/p>\n

In fact, the last time the ETH\/BTC ratio dipped to 0.021, ETH was valued between $150-$300 in May 2020. <\/p>\n

\"Ethereum
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Ethereum\/Bitcoin 1-month chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n

Data from the token terminal showed<\/a> Ethereum\u2019s monthly fees dropped to $22 million in March 20205, its lowest level since June 2020, indicating low network activity and market interest. <\/p>\n

Ethereum fees represent the cost users pay for transactions, which is influenced by network demand. When network fees begin to drop, it indicates reduced network utility. <\/p>\n

\"Ethereum
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Ethereum fees and price. Source: token terminal<\/em><\/p>\n<\/figcaption><\/figure>\n

Despite the price action and revenue malaise, Ethereum analyst VentureFounder said<\/a> that the ETH\/BTC bottom could occur over the next few weeks. The analyst hinted at a potential bottom between 0.017 and 0.022, suggesting that the ratio might drop further before a recovery. The analyst said, <\/p>\n

\u201cMaybe another lower low RSI and one more push downward lots of similarity with 2018-2019 Fed tightening & QE cycle, expecting the first higher high after May FOMC when Fed ends QT & begin QE.\u201d<\/p><\/blockquote>\n

\"Ethereum
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Ethereum\/Bitcoin analysis by venture founder. Source: X.com<\/em><\/p>\n<\/figcaption><\/figure>\n

Related: Ethereum price down almost 50% since Eric Trump’s ‘add ETH’ endorsement<\/strong><\/em><\/a><\/p>\n

Historical odds favor a short-term bottom<\/h2>\n

Since its inception, ETH has registered three or more consecutive bearish monthly candles on five occasions, and each time, a short-term bottom was the result. The chart below shows that the most back-to-back red months occurred in 2018, with seven, but prices jumped 83% after the correction. <\/p>\n

\"Ethereum
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Ethereum monthly chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n

In 2022, after three consecutive bearish months, ETH price consolidated in a range for almost a year, but the bottom was in on the third bearish candle in June 2022. Historically, Ethereum has a 75% probability of having a green month in April. <\/p>\n

Based on Ethereum\u2019s past quarterly returns, the altcoin experienced<\/a> the least number of drawdowns in Q2 compared to other quarters. With the average returns in Q2 as high as 60.59%, the likelihood of positive returns in April. <\/p>\n

\"Cryptocurrencies,
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Ethereum Quarterly returns. Source: CoinGlass<\/em><\/p>\n<\/figcaption><\/figure>\n

Related: Why is Ethereum (ETH) price up today?<\/strong><\/em><\/a><\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n