Ethereum Nears Unprecedented Three-Red Quarters Amid Bullish Signs

Ethereum is on course to experience something unprecedented, its first three consecutive red quarters. According to Coinglass data, ETH has never closed three straight quarters in the red.

The second-largest cryptocurrency fell 28.28% in Q4 2025 and 29.26% in Q1 2026, with an additional 18.4% decline this quarter. Ethereum's price slump has pushed it near multi-year lows and sentiment into deep fear.

However, momentum appears to be turning in its favor. Broader risk markets have strengthened following reports of a US-Iran peace agreement, lifting the total cryptocurrency market capitalization by 2% over the past 24 hours. Ethereum has outperformed slightly, gaining 2.6% over the same period to trade above $1,700.

Historical trends offer additional support for the bullish case. ETH has recorded a positive quarter immediately after every previous instance of back-to-back quarterly losses. Analyst Ardi noted that while history suggests ETH tends to bounce back after prolonged weakness, seasonal trends indicate the path higher may not be straightforward.