Ethereum Closes April with Fifth Consecutive Month in the Red
Ethereum (ETH) has faced challenges in April, closing 1.56% below its opening price and marking the fifth consecutive month of negative returns. The cryptocurrency attempted to reclaim $1,800, fluctuating between $1,770-$1,820, with a recent jump of 5.5%, surpassing $1,850.
Key Points
- ETH closed April at $1,860-$1,870, its lowest performance since 2018, with a 45.4% retracement in Q1 2025.
- May historically sees an average increase of 27.31% for ETH, suggesting potential recovery.
- The second quarter has generally been positive for cryptocurrencies, with seven out of nine quarters ending in the green.
- Analysts note that current price patterns may mirror Bitcoin's 2020 rally, indicating possible accumulation before a significant price movement.
- Crypto Bullet suggests that ETH may not reach a new all-time high this cycle, predicting a mid-term bounce to around $2,500 but warns of potential rejection near $2,700-$3,000.
- There is speculation about ETH being in a larger cycle than perceived, possibly delaying a breakout until 2028.
