Ethereum Reports a 5th Consecutive Monthly Decline

By: cryptosheadlines|2025/05/03 00:00:08
0
Share
copy
Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Ethereum closed April with a dragonfly doji above the $1,550 support zone.ETH has posted five consecutive red monthly candles since December 2023.April’s long lower wick signals rejection of lows near mid-2023 demand levels.Ethereum ended April with a fifth straight monthly red candle, continuing its extended losing streak that began in December 2023. This marks the longest monthly downturn for ETH since the 2018 bear market, reinforcing market caution around sustained upward momentum. Despite this, analysts noted technical signals that may suggest a change in price behavior.April Closes With Hammer Candle Above Support LevelsEthereum’s monthly chart for April formed a dragonfly doji candle, often interpreted as a potential bottoming structure in technical analysis. The candle displayed a long lower wick and a small real body near the top of the range, signaling rejection of lower prices. Price action during the month swept below the lows recorded between August and October 2023 before reversing and closing back above a key horizontal support zone.A deeper analysis by CryptoBullet indicates that Ethereum’s monthly chart shows five consecutive red candles, replicating the six-month decline during the 2018 bear market. The current pullback began from the $3,600 range and dropped to a key support zone near $1,550. April’s candle formed a long lower wick, closing above support, indicating a rejection of lower prices. Source: Crypto BulletThe inset chart confirms the candle pierced the previous demand zone before bouncing. Volume slightly increased during the recent decline, matching previous low accumulation phases. Price action broke below mid-2023 levels but returned above critical structure. Historical support from June 2022 remains intact. Ethereum is currently trading near $1,820.Ethereum Extends Monthly Decline PatternWith the April close, Ethereum has now posted negative returns for five consecutive months. This pattern mirrors past downtrends, particularly during macro uncertainty or when Bitcoin dominance increases. The last comparable streak occurred during the prolonged drawdown in 2018, which was characterized by low confidence in altcoins.Despite this extended period of weakness, the April candle’s structure diverged from previous months by showing notably lower wick strength. The move undercut previous demand zones and may have cleared late long positions, a scenario some technical analysts interpret as a liquidity sweep.The coming weeks are expected to be critical in determining whether April’s rebound above key levels holds or if the broader downtrend continues. The market will likely await further confirmation from both price structure and volume behavior before establishing a new directional trend.Source link

-- Price

--

You may also like

Morning Report | DeepSeek completes over $7 billion in financing, with a valuation exceeding $50 billion; Musk's personal wealth has surpassed the total market value of Bitcoin

Overview of Important Market Events on June 16

Cursor, why did you get on Musk's spaceship?

SpaceX set a record with its IPO, spending a staggering $60 billion to acquire the popular AI programming unicorn Cursor just four days later. Musk is using the ultimate puzzle of "super computing power + top coding engine" to propel the market value skyrocketing, surpassing Amazon in one fell swoop...

In the name of charity, for the benefit of the family: How the Trump family turned charity into profit?

This set of "beautiful rhetoric and value return to one's own people" has not stopped at charitable foundations; it has now almost been transferred intact to American Bitcoin.

Will Gold Break $4,500 After Tonight's Fed Decision? What XAUT and PAXG Traders Need to Know

The Federal Reserve announces its June rate decision tonight. Could gold break $4,500 next? Explore the latest gold price prediction, key Fed scenarios, and what they mean for XAUT and PAXG traders.

SharpLink CEO: How to understand that Ethereum developers have just surpassed 1 million?

The most important question in the cryptocurrency industry is not which chain is the fastest, but rather where top builders choose to build in the long term. Ethereum has just surpassed one million cumulative developers; what does this number mean?

Morning Report | MiCA grace period expires on July 1; Kalshi's trading volume in the first week of the World Cup breaks $5.1 billion, setting a record

Overview of Important Market Events on June 15

Contents

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com