As Q1 ends, Ethereum investors shift focus to Q2. Historically, April and May are stronger months for the crypto market, raising questions about ETH's potential.
January-March 2023: Drastic Changes for Ethereum
In Q1 2023, Ethereum's price sharply fell by 45%, holding support around $1790. Analysts remain optimistic about ETH's long-term potential to break key resistance levels.
April and May Seasonality Features
Historical data shows April delivered an average Ethereum return near 20%, while May consistently outperformed with an average gain closer to 30%. Will ETH surpass $3000 by the end of May?
What Do On-Chain Data Indicate?
According to blockchain analyst Ali Martinez, there has been a major decline in whale Ethereum transactions since February 25, dropping by about 63.8%. This, alongside low fees, signals caution.
In Q2, holding support around ~$1790 is key for Ethereum's recovery potential, with the first resistance seen at $1900.
