Ethereum has experienced a significant decline, evidenced by its four consecutive red monthly candles, culminating in an 18.47% drop in March. This bearish trend raises questions among analysts about the potential for an ETH price bottom or further declines. The Ethereum/Bitcoin ratio fell to a five-year low of 0.021, indicating Ether's underperformance against Bitcoin, reminiscent of its value range in mid-2020. Network activity has also diminished, with monthly fees dropping to a low of $22 million, reflecting reduced user engagement and transaction demand. Despite current challenges, historical trends suggest a 75% likelihood of a price recovery in April following consecutive bearish months. Analysts predict that the ETH/BTC ratio may continue to dip, possibly finding a bottom between 0.017 and 0.022, before a potential recovery. Past occurrences where Ethereum has closed with multiple red candles have often resulted in subsequent price rebounds, suggesting optimism for a turnaround in the coming weeks.

Source đź”—