Ethereum Q2 Outlook: Strong Seasonality Clashes with Weak On-Chain Data
- ETH enters Q2 testing ~$1790 support after sharp Q1 drop (-45%)
- Positive April/May seasonality contrasts with low whale activity & 2020-low fees
- Holding ~$1790 support key for potential rebound; $1900 is first resistance
As Q1 comes to a close, Ethereum investors shift their focus toward Q2 prospects. April and May historically stand out as some of the stronger months for the crypto market. Historical data shows April delivered an average Ethereum return near 20% in past cycles, while May consistently outperformed with an average gain closer to 30%. This strong seasonal tendency raises a question for Ethereum (ETH) on whether it can surpass the $3,000 mark by the end of May this year.
Many analysts remain generally bullish on ETH’s longer-term potential to break key resistance levels eventually. However, beneath this general outlook, recent on-chain activity suggests a more complex and cautious narrative.
On-Chain Data Shows Declining Whale Activity, Low Fees
According to blockchain analyst Ali Martinez, there has been a major decline noted in whale Ethereum transactions since February 25. Activity among these large wallets reportedly dropped by 63.8% d…
The post Ethereum Q2 Outlook: Strong Seasonality Clashes with Weak On-Chain Data appeared first on Coin Edition.
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Ethereum Q2 Outlook: Strong Seasonality Clashes with Weak On-Chain Data
- ETH enters Q2 testing ~$1790 support after sharp Q1 drop (-45%)
- Positive April/May seasonality contrasts with low whale activity & 2020-low fees
- Holding ~$1790 support key for potential rebound; $1900 is first resistance
As Q1 comes to a close, Ethereum investors shift their focus toward Q2 prospects. April and May historically stand out as some of the stronger months for the crypto market. Historical data shows April delivered an average Ethereum return near 20% in past cycles, while May consistently outperformed with an average gain closer to 30%. This strong seasonal tendency raises a question for Ethereum (ETH) on whether it can surpass the $3,000 mark by the end of May this year.
Many analysts remain generally bullish on ETH’s longer-term potential to break key resistance levels eventually. However, beneath this general outlook, recent on-chain activity suggests a more complex and cautious narrative.
On-Chain Data Shows Declining Whale Activity, Low Fees
According to blockchain analyst Ali Martinez, there has been a major decline noted in whale Ethereum transactions since February 25. Activity among these large wallets reportedly dropped by 63.8% d…
The post Ethereum Q2 Outlook: Strong Seasonality Clashes with Weak On-Chain Data appeared first on Coin Edition.
Read More
Could April Trigger Altcoin Season? Van de Poppe Links ETH Strength to Gold Dip