Ethereum's Ether has registered four consecutive red monthly candles, experiencing an 18.47% drop in March. This decline reflects a bearish market structure not seen since 2022, with each monthly close below the previous month’s low. Analysts are now debating whether Ethereum is nearing a bottom or may continue to decline further. The Ethereum/Bitcoin (ETH/BTC) ratio reached a five-year low of 0.021, indicating Ether's poor performance compared to Bitcoin. Historically, after three consecutive bearish months, a short-term bottom usually forms, as seen in past market cycles. Notably, when the ETH/BTC ratio previously dipped to similar lows, ETH's price ranged between $150 and $300 in May 2020. Despite low network activity reflected by decreased transaction fees, some analysts predict a potential bottom for ETH/BTC could arise shortly, suggesting further declines might precede recovery. On average, ETH has a 75% probability of seeing a green month in April, paired with a strong historical performance in Q2, indicating potential for positive returns soon.

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