Ethereum Sees Historical June Slowdown with Potential for Further Price Declines
Ethereum is experiencing a typical June slowdown, aligning with historical trends. Current data indicates:
- June is historically the second-worst month for Ethereum, with average returns of -6.56% and median returns of -5.65%.
- In ten years, only three Junes have ended positively, while six have seen declines, including an 8.64% drop in June 2024.
- As of now, Ethereum has seen a minimal increase of 0.20% this month, suggesting continued bearish momentum.
- Possible decline below $2,500 is anticipated if historical patterns hold, although potential recovery exists with rising Bitcoin prices.
Bullish Outlook Persists
Despite bearish trends, analysts express optimism regarding Ethereum's future:
- Analyst Crypto Patel forecasts a short-term drop to $2,000 if Ethereum falls below $2,500 but remains bullish long-term, targeting $10,000.
- Ash Crypto notes a potential golden cross for Ethereum, predicting an immediate upward trend towards $3,500.
- Lord of Alts identifies a consolidation, accumulation, and expansion cycle, projecting prices as high as $6,000 by 2026.
