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Ethereum: Price Dynamics and Seasonal Trends

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by A1

3 hours ago


Ethereum's price has declined sharply after finding substantial resistance at $4,000. However, historical data suggests that the first quarter of each year is often profitable for this asset.

Current Ethereum Price

On Monday, Ethereum traded around $3,340 as the cryptocurrency market stabilized. This was above last week’s low of $3,100, indicating some stabilization.

Seasonal Trends and Historical Data

Seasonal data suggests Ethereum typically posts positive returns in the first quarter, having shown positive results in all but two first quarters since 2017. Its best performance was in 2017, with a 518% increase, and in 2021 with a 160% rise. The average first-quarter returns are 92%, marking it as the most favorable period of the year.

Technical Analysis and Outlook

Technical indicators show Ethereum maintains key levels above the ascending trendline connecting lows since May 2022. A sharp increase is possible if the price breaks through the $4,027 level, potentially paving the way to the all-time high of $4,860.

While seasonal trends are not always reliable predictors, current technical indicators suggest a potential rebound in Ethereum's price in the coming months.

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