First Time in History? Ethereum (ETH) Nears Third Straight Red Quarter

Ethereum is close to setting up a new anti-record as it goes through structural crisis.

Arman Shirinyan · 31 May 2026 · 5 min read

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First Time in History? Ethereum (ETH) Nears Third Straight Red Quarter

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By
Arman Shirinyan

Sun, 31/05/2026 – 10:33

Ethereum is close to setting up a new anti-record as it goes through structural crisis.

First Time in History? Ethereum (ETH) Nears Third Straight Red Quarter

Cover image via depositphotos.com

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During one of the most difficult times in the asset’s history, Ethereum is getting close to a milestone that few investors anticipated.

For the first time since it started trading, ETH may experience three consecutive monthly losses if current market conditions hold true through June. According to historical data, Ethereum has never closed in negative territory for three consecutive months.

Even though the asset has gone through severe bear markets, such as the 2018 collapse and the 2022 crypto winter, it has always been able to break losing streaks with at least one positive monthly close before falling for a third time in a row.

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Starting from a decline

Ethereum’s first quarter of 2024 has already ended with a 29.1 percent decline. Additionally, there has been no respite in the second quarter. Q2 is currently in negative territory, and May’s weakness has put ETH in danger of continuing its record-breaking monthly losing streak into June.

The technical picture backs up the negative narrative. 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 are still above the current price.

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