Ether, the native Ethereum coin (ETH)The altcoin,, dropped by 18.47% last March. Altcoin’s market structure today reflects an extended bearish trend, not seen since bear market 2022.
Analysts are starting to debate whether ETH has reached a bottom, or if it still has more downside for this altcoin.
Ethereum/Bitcoin Ratio hits New 5-Year Low
The Ethereum/Bitcoin rate dropped to its lowest level in five years on March 30. The ETH/BTC is a ratio that measures ETH against Bitcoin (BTC)Ether underperformed Bitcoin during the last 5 years.
When the ETH/BTC was last at 0.021 in May of 2020, ETH’s value ranged between $150 and $300.
Ethereum/Bitcoin 1-month chart. Source: Cointelegraph/TradingView
The token terminal provides data. showed Ethereum’s fee monthly dropped to 22 million dollars in March 2025, its lowest amount since June 2020. It indicates low activity on the network and market.
Ethereum fees reflect the price users are charged for transactions. These costs can be influenced by the demand of the Ethereum network. If network fees start to fall, this indicates a reduced utility of the network.
Ethereum’s fees and prices Source: token terminal
VentureFounder, an Ethereum analyst, says that despite price volatility and revenue problems the market is still doing well. said The ETH/BTC ratio could reach its bottom in the coming weeks. Analyst suggested that a bottom could be between 0.017 and 0.022, suggesting the ratio may drop even further before recovering. Analyst said:
“Maybe another lower low RSI and one more push downward lots of similarity with 2018-2019 Fed tightening & QE cycle, expecting the first higher high after May FOMC when Fed ends QT & begin QE.”
Analysis of Ethereum/Bitcoin by a venture founder Source: X.com
Related: Ethereum price down almost 50% since Eric Trump’s ‘add ETH’ endorsement
The historical odds suggest a quick-term bottom
Five times since its launch, ETH’s monthly candle has shown three consecutively bearish candles. Each time, a bottom-out was achieved in a relatively short period of time. In 2018, there were seven consecutive red months, and prices rose 83% following the correction.
Ethereum Monthly Chart Source: Cointelegraph/TradingView
After three consecutive months of bearishness, the ETH price consolidated for nearly a year in a narrow range, with the lowest point occurring on the third candle bearish in June 2022. In April, Ethereum’s probability to have a positive month is 75%.
Ethereum has shown a quarterly increase in value. experienced There were fewer drawdowns during Q2 than in other quarters. In Q2, the returns were as high at 60.59%. There is therefore a higher likelihood that April will see positive returns.
Quarterly Ethereum Returns Source: CoinGlass
Related: Why is Ethereum (ETH) price up today?
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Source: cointelegraph.com
