Ethereum, Ether (ETH) from the token, registered four more red monthly candles after Altcoin fell by 18.47% in March. The current structure of the Altcoin market reflects the indefinite tendency of the bear, which was not perceptible since the bear from 2022.

With every monthly loved one, which takes place below the low month, analysts start a debate about whether ETH is approaching the bottom or whether there are more disadvantages to Altcoin.

The ratio of Ethereum/Bitcoin goes to the up-to-date 5-year-old lowest

On March 30, the ratio of Ethereum/Bitcoin fell to the five -year lowest level 0.021. The ETH/BTC factor measures the ETH value in relation to Bitcoin (BTC), and the current decrease emphasizes the worse level of ether in relation to Bitcoins over the past five years.

In fact, the last time the ETH/BTC ratio dropped to 0.021, ETH was valued in May 2020 from 150 to USD 300.

Data from Topena terminal shown Ethereum monthly fees dropped to $ 22 million in March 20205, at its lowest level since June 2020, which indicates low network activity and market interest.

Ethereum fees represent the costs that users pay for transactions that are affected by network demand. When the network fees begin to fall, it indicates a reduction in network usability.

Despite the price and malaise, the Ethereum VentureFounder analyst he said that the ETH/BTC bottom can occur in the next few weeks. The analyst suggested a potential bottom between 0.017 and 0.022, which suggests that the attitude may decrease before recovering. The analyst said

“Perhaps another lower low RSI and one more thing push many similarities with the fed and the QE 2018-2019 cycle, expecting the first higher level after May Fomc, when the Fed finishes QT and the beginning of QE.”

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Historical opportunities are conducive to the brief -term bottom

From the very beginning, ETH has registered three or more more bears of monthly candles five times, and each time the result was a brief -term bottom. The chart below shows that the most red months in 2018, with seven, but prices increased by 83% after correction.

In 2022, after three consecutive bears, the price of ETH consolidated in the range for almost a year, but the bottom was on the third candles of the bear in June 2022. Historically, Ethereum has 75% probability of having a green month in April.

Based on the previous quarterly phrases Ethereum, Altcoin experienced The smallest number of payments in Q2 compared to other quarters. With average returns in the second quarter up to 60.59%, the probability of positive phrases in April.

Related: Why Ethereum (ETH) is the price today?

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.