{"id":126264,"date":"2025-04-01T20:17:38","date_gmt":"2025-04-01T20:17:38","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126264"},"modified":"2025-04-01T20:17:38","modified_gmt":"2025-04-01T20:17:38","slug":"ethereum-prints-4-consecutive-red-monthly-candles-but-data-points-to-an-eth-btc-bottom","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126264","title":{"rendered":"Ethereum prints 4 consecutive red monthly candles, but data points to an ETH\/BTC bottom"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsEthereum\u2019s native token, Ether (ETH), 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.<br \/>\nWith 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.<br \/>\nEthereum\/Bitcoin ratio hits new 5-year low<br \/>\nOn 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), and the current decline underlines Ether\u2019s underperformance against Bitcoin over the past five years.<br \/>\nIn fact, the last time the ETH\/BTC ratio dipped to 0.021, ETH was valued between $150-$300 in May 2020.<br \/>\nEthereum\/Bitcoin 1-month chart. Source: Cointelegraph\/TradingViewData from the token terminal showed Ethereum\u2019s monthly fees dropped to $22 million in March 20205, its lowest level since June 2020, indicating low network activity and market interest.<br \/>\nEthereum 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.<br \/>\nEthereum fees and price. Source: token terminalDespite the price action and revenue malaise, Ethereum analyst VentureFounder said 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,<br \/>\n\u201cMaybe another lower low RSI and one more push downward lots of similarity with 2018-2019 Fed tightening &amp; QE cycle, expecting the first higher high after May FOMC when Fed ends QT &amp; begin QE.\u201d<br \/>\nEthereum\/Bitcoin analysis by venture founder. Source: X.comRelated: Ethereum price down almost 50% since Eric Trump&#8217;s &#8216;add ETH&#8217; endorsement<br \/>\nHistorical odds favor a short-term bottom<br \/>\nSince 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.<br \/>\nEthereum monthly chart. Source: Cointelegraph\/TradingViewIn 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.<br \/>\nBased on Ethereum\u2019s past quarterly returns, the altcoin experienced 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.<br \/>\nEthereum Quarterly returns. Source: CoinGlassRelated: Why is Ethereum (ETH) price up today?<br \/>\nThis 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.<a href=\"https:\/\/cointelegraph.com\/news\/ethereum-prints-4-consecutive-red-monthly-candles-but-data-points-to-an-eth-btc-bottom?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsEthereum\u2019s native token, Ether (ETH), 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&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126264"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126264"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126264\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126264"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}