Ethereum is poised to conclude the second quarter with notable gains. It will be its first green since the start of the year.
However, the coin has yet to fully erase the losses it had in Q1. The session ended with losses exceeding 47%. It was one of the worst hit by the selloffs in December, retracing from $3,700 to $3,000 but closing with losses exceeding 10% amid recovery.
The selloffs continued into the next month, with the asset registering a slight price change. Nonetheless, the biggest decline of the quarter occurred in February, when it retraced from $3,300 to $2,073 and closed with losses exceeding 30%.
Trading action in March sealed the losses as the largest altcoin lost over 18% following its retracement to $1,700
The selloff slowed down in April after ETH retraced to $1,383. It continued recovery in May with a whopping 41% surge. However, it prints a doji for June.
Nonetheless, one of the biggest highlights of the quarter happened in the fourth month when the asset registered one of its most significant surges. It opened the session at $1,811 and surged to a high of $2,225, gaining over 20% in a single day. The hike occurred after over two weeks of rangebound movement.
Nonetheless, Ethereum registered a notable spike in network activity and staked assets over the last three months. Data from CryptoQuant indicates a significant accumulation during this period.
Exchange-traded funds registered notable inflows. US ETFs registered an influx of over $1.76 billion, as the Hong Kong spot ETF experienced a significant inflow.
Ethereum May Experience Upticks in Q3
The 36% gain in Q2 is unsurprising as this is typically the second most profitable quarter of the year. Previous records suggest that Ethereum gains an average of 67% every Q2. It registered its largest increase in 2017, surging by over 487%. Conversely, it lost a whopping 67% in 2022.
Historically, Q3 is not the best for the largest altcoin. It performs its worst during this period, losing an average of over 3%. It registered its biggest gains of 50% in 2020. It remains to be seen if it will topple this figure in 2025. However, it recorded its largest loss in 2018, a 48% decline.
The apex altcoin may continue to build on the gains made in the previous quarter. A closer look at the chart above shows a clear pattern for gains and losses. Ethereum registers notable losses for the second consecutive time.
The altcoin lost 13% in 2023 and 24% the following year. If this trend persists, the asset may be poised for a significant increase over the next three months.
The 3-month chart supports this speculation. Ethereum has never slipped below Bollinger’s middle band since inception. It slipped below the metric for the first time during the last quarter. It trades above it at the time of writing. However, further decline will see it return below it.
The bulls are holding on to this level at the time of writing. They may use the mark as support for further increases. If talks of the altseason happening soon become a reality, it will result in massive surges.
On the other hand, there is a considerable chance of massive declines in Q3. The growing discontent over ETH’s “sluggish” movement may see investors leave it for more profitable assets.
A Bearish End
The largest altcoin will end June with slight losses. A review of its performance in 2025 reveals that it incurred notable losses in five of the six months. The sixth month was no exception, and it’s not surprising.
The chart above shows that the cryptocurrency experiences a less pronounced uptrend in June. It registers an average of 6.71% during this period, the second lowest compared to the other months.
Nonetheless, the apex altcoin grappled with notable selling pressure at the start of the sixth month. It kicked off with Donald Trump’s threat of tariffs on the EU. It shrugged off the news, as other positive fundamentals continued to emerge.
However, ETH resumed its downtrend as the news of Israel bombing Iran made the news. Iran’s retaliation sparked further panic across the market. Fears of World War 3 increased when the US joined the conflict. The conflict ended, and Ethereum is yet to recover fully, resulting in its bearish close.
The one-week chart shows that the second-largest cryptocurrency was locked in a rangebound movement for most of the month. It had its first major in the week starting Jun. 16, losing over 12%. It recovered the lost value the next week.
Nonetheless, the coin attained several milestones over the last thirty days. Ethereum transaction fees surged by over 130% in the week starting Jun. 23. The driver is growing interest from institutional participants in decentralized finance (DeFi) applications and a spike in smart contract usage.
Ethereum May Continue Downtrend
Ethereum may be starting the third quarter with one of its biggest losses. Historically, July is the most bearish month for the coin. It registered its largest surge in 2022, increasing by over 57%. It saw its biggest loss in 2017, losing over 30%. However, it gains an average of 5.42%.
A closer look at the previous return reveals a pattern. ETH experienced three years of consistent gains, but also had four losses. Continuing this trend will result in the largest altcoin registering notable losses over the next thirty days.
Nonetheless, the one-week chart shows that Ethereum may see further increases before it retraces. It trades above Bollinger’s middle band and may retest the upper band around $2,900.
However, there is a reduced chance of this happening as the bulls are showing signs of exhaustion. This follows the massive increases the asset had last week. It is worth noting that the moving average convergence divergence prints a buy signal, increasing the probability of a hike to the highlighted level.
