“Ethereum is on track for its 2nd worst first half of the year after 2022,” — this is how analysts evaluate the current position of the second-largest cryptocurrency, which risks closing three consecutive quarters in the red for the first time. Moreover, experts believe that the coin still has time to break this historic pattern before the end of June, as strong bullish signals are emerging in the market and ETH has managed to climb back above $1,700.

As Coinglass analysts stated — “This can be tracked by historical trends: following every previous instance of back-to-back quarterly losses, Ethereum has always recorded a strong rebound in the next period.” But they further clarified that this does not mean guaranteed or easy growth, as the third quarter has historically been the weakest for the coin with an average return of just 7.44%, although a strong fundamental factor in the form of 39.5 million staked coins continues to limit long-term selling pressure.