Ethereum Nears Three Consecutive Monthly Losses in Historic First

Ethereum is currently facing one of the most challenging periods in its history, as it approaches an unprecedented milestone. For the first time since trading began, ETH may experience three consecutive monthly losses if current market conditions persist through June.

Historical data indicates that Ethereum has never closed in negative territory for three consecutive months. Even during severe bear markets like 2018 and 2022's crypto winter, the asset was able to break losing streaks with at least one positive monthly close before falling again.

The technical picture also supports this negative narrative, as Ethereum is currently trading below its major moving averages after breaking out of a declining consolidation pattern. Bulls have frequently failed to break through the layered resistance zone created by the 50-day, 100-day, and 200-day moving averages, all of which remain above the current price.

Additionally, Ethereum is testing a critical psychological support level at approximately $2,000. The asset has already lost ground to Bitcoin for most of the year, and institutional demand has not been robust enough to withstand ongoing selling pressure.