Ethereum Nears First-Ever 3 Straight Red Quarters as Bullish Signs Emerge

Ethereum (ETH) is on track to do one thing it has by no means completed earlier than. It is heading towards three consecutive purple quarters for the primary time in its historical past.

With about two weeks left earlier than the quarter closes, ETH nonetheless has time to interrupt the sample. A macro elevate and rising staking have saved hopes of a reversal alive.

Why a Third Red Quarter Would Be Historic For Ethereum

ETH has by no means closed three consecutive quarters within the purple, Coinglass information reveals. The second-largest cryptocurrency fell 28.28% in This fall 2025 and 29.26% in Q1 2026. It is down 18.4% this quarter.

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The value hunch has pushed ETH close to multi-year lows and sentiment into deep fear.

“Ethereum is on observe for its 2nd worst first half of the yr after 2022,” an analyst noted.

The Bullish Case For Ethereum

With two weeks left within the quarter, Ethereum nonetheless has time to keep away from a sample it has by no means skilled earlier than. For now, momentum seems to be delivering its favor.

Broader(*3*) following stories of a US-Iran peace settlement. The information lifted the full cryptocurrency market capitalization by 2% over the previous 24 hours. Ethereum has outperformed barely, gaining 2.6% over the identical interval to commerce above $1,700.

At the identical time, historic developments supply extra assist for the bullish case. ETH has recorded a constructive quarter instantly after each earlier occasion of back-to-back quarterly losses. 

In 2022, for instance, Ethereum declined for 2 consecutive quarters earlier than rebounding 24% within the following quarter. Similar, although extra modest, recoveries adopted consecutive purple quarters in 2019 and 2020.

However, there’s a caveat. Any restoration would seemingly want to increase into Q3, which has traditionally been Ethereum’s weakest quarter, delivering a median return of simply 7.44%. While historical past suggests ETH tends to bounce again after extended weak point, seasonal developments point out the trail increased might not be simple.

Staking and Technical Signals Lean Bullish

Besides seasonal developments, technical indicators are also signaling a possible Ethereum backside. Analyst Ardi stated a number of metrics are aligning with earlier cycle lows, together with ETH’s latest contact of a blue decrease acceptance cloud and RSI developments.

However, he cautioned that “worst isn’t over but,” in relation to the value. Weekly RSI has but to spend a number of weeks under 30 as seen in prior cycles, whereas the ETH/BTC pair stays in a powerful downtrend.

“ETH has extra draw back incoming as lengthy as its pair bleeds. But final cycle, ETH bottomed 6 months earlier than BTC… Timing the underside is unbelievable. But we’re within the second half of the bear market yr,” the analyst remarked.

At the identical time, on-chain information factors to resilient demand. More than 39.5 million ETH is now staked throughout greater than 887,000 validators, reflecting sturdy long-term conviction amongst holders.

This development doesn’t align with a strongly bearish outlook. Instead, the continued development in staked ETH suggests buyers are selecting to lock up their holdings fairly than promote, serving to restrict potential on-chain promoting stress.

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