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Ethereum Prints 5 Red Monthly Candles: What Happened The Last Time? | Bitcoinist.com
Ethereum’s Five Red Monthly Closes
In a recent post on X (formerly Twitter), crypto analyst CryptoBullet pointed out that the Ethereum price had closed its fifth consecutive month in the red. This development has set Ethereum back years, with its price crashing to levels not seen since 2023.
Related Reading: Dogecoin Price Completes Bullish Rounded Bottom, Moves Into Range For This Breakout
However, it may seem that this is not entirely bad news for the second-largest cryptocurrency by market cap and could end up being the start of a bullish impulse.
However, what followed in 2018 was not a bullish impulse, but rather a bearish continuation. The cryptocurrency would close an additional two months in the negative, leading to seven consecutive red closes on the monthly chart for Ethereum. In the end, it would take almost a year for the altcoin to gather enough momentum for it to get bullish again and start a sustained recovery.
Related Reading: XRP ETF Not Launching Soon, Why Are Investors Looking At These Two Dates?A popular saying in the crypto market is that “history doesn’t repeat, but it often rhymes”. If this is true and plays out in this scenario, that means Ethereum may not follow the bearish continuation to a tee, but it could mean that the pain is far from over for investors.
If 2025 sees a similar trend to 2018, then the month of May, which has already started out in the green for Ethereum, could see the price fall further. In such a case, the ETH price could be looking toward the end of 2025 for a sustained recovery.