Q2 Outlook For Ethereum: Can ETH Overcome Its Disappointing Q1 Performance?

Source Newsbtc

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has experienced one of its most challenging starts to the year, recording its second-worst performance in the first quarter of its history. 

As of now, ETH is trading just above the crucial support level of $2,000, reflecting a year-to-date decline of 43%. This stark contrast is particularly notable when compared to Bitcoin (BTC) and XRP, which have seen gains of 23% and an astonishing 279%, respectively, during the same period.

Could A 60% Surge In Q2 Bring It Back To $3,200?

Market expert Lark Davis has drawn attention to the dramatic downturn in Ethereum’s price in a recent social media update, highlighting a 38% drop in Q1 of this year for the altcoin. 

This figure is alarmingly close to its worst quarterly performance of 46% recorded during the first quarter of 2018, as noted in the comparison chart shared by Davis. 

Ethereum

Following that troubling quarter in 2018, Ethereum saw a brief recovery of 15% in Q2, only to face more than 40% declines in the subsequent quarters, respectively, raising concerns for current investors that this pattern might occur once again in this cycle.

Despite these discouraging figures, Davis posed an interesting question regarding the potential for an “explosive” second quarter for Ethereum. Historically, since 2016, ETH has averaged a remarkable 66% surge during this period. 

If this trend continues and the Ethereum price were to achieve a 60% increase in the coming months, its price could climb to $3,200 per token—levels not seen since early February of this year.

Crypto Expert Predicts 1,100% Surge For The Ethereum Price 

While short-term challenges remain, many analysts retain a long-term bullish outlook for Ethereum. Crypto analyst Merlijn drew parallels between the current market conditions and Bitcoin’s past performance, suggesting that Ethereum is poised for a similar trajectory. 

The analyst noted, “Accumulation, breakout, and V-shape recovery loading,” implying that a new bull run could be on the horizon for ETH, with forecasts suggesting it could reach up to $24,000 during this cycle—a major 1,100% increase.

However, the path to recovery is not without its hurdles. Expert Ali Martinez recently highlighted key resistance levels that Ethereum must overcome for a sustainable rebound in the short-term. 

Martinez noted that ETH’s price has reclaimed its realized price of $2,040, but the next significant challenge lies at the $2,300 mark, where strong resistance has been observed for the leading altcoin.

Despite a recent recovery that saw a 10% spike in the past two weeks, Ethereum still faces notable monthly losses, down nearly 25% following a broader market correction. 

Ethereum

Featured image from DALL-E, chart from TradingView.com

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
AUD/USD: Current price action is likely the early stages of a recovery – UOB GroupAustralian Dollar (AUD) is likely to trade in a sideways range between 0.6220 and 0.6290. In the longer run, current price action is likely the early stages of a recovery phase that could potentially reach 0.6350, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
Author  FXStreet
Jan 22, Wed
Australian Dollar (AUD) is likely to trade in a sideways range between 0.6220 and 0.6290. In the longer run, current price action is likely the early stages of a recovery phase that could potentially reach 0.6350, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
placeholder
Here Is Why Shiba Inu (SHIB) Could Reach a 4-Year High in Q2 2025Shiba Inu is showing renewed strength, rising more than 16% over the last week of April. Despite a difficult year for meme coins, SHIB has held up better than major peers like BONK, PEPE, and DOGE.
Author  Beincrypto
Yesterday 01: 57
Shiba Inu is showing renewed strength, rising more than 16% over the last week of April. Despite a difficult year for meme coins, SHIB has held up better than major peers like BONK, PEPE, and DOGE.
placeholder
Tesla's Stock Soars Nearly 10%! US Eases Self-Driving Regulations, Boosting Competition with Chinese Manufacturers!Tesla benefits from the U.S. easing self-driving regulations. The stock surged 10%, reaching a new high since March 27.On Friday, April 25, Tesla Inc (TSLA) stock jumped 9.8%.
Author  TradingKey
Yesterday 03: 51
Tesla benefits from the U.S. easing self-driving regulations. The stock surged 10%, reaching a new high since March 27.On Friday, April 25, Tesla Inc (TSLA) stock jumped 9.8%.
placeholder
USDT's market cap hits a new high. Will the cryptocurrency rebound continue?The market cap of USDT keeps rising. But this doesn't guarantee a rebound in the crypto market. A decline is still possible.
Author  TradingKey
22 hours ago
The market cap of USDT keeps rising. But this doesn't guarantee a rebound in the crypto market. A decline is still possible.
placeholder
Dogecoin Price Breaks Resistance Trendline That Could Trigger Breakout Above $1The Dogecoin price looks set to witness a breakout above the psychological $1 level, having broken a resistance trendline. Crypto analyst Trader Tardigrade provided a timeline for when this massive surge could happen as DOGE rallies to a new all-time high (ATH). 
Author  Bitcoinist
18 hours ago
The Dogecoin price looks set to witness a breakout above the psychological $1 level, having broken a resistance trendline. Crypto analyst Trader Tardigrade provided a timeline for when this massive surge could happen as DOGE rallies to a new all-time high (ATH). 
goTop
quote