以太坊（ETH）註冊4個連續的紅色每月蠟燭，ETH/BTC比率打入新的5年低點

以太坊的原住民令牌Ether（ETH）在三月份的山寨幣下降了18.47％後，連續四個紅色蠟燭登記。

The cryptocurrency market saw some red close out March, with the chart of Ether (ETH) revealing four consecutive bearish monthly candles.

加密貨幣市場三月有些紅色，以太（ETH）（ETH）的圖表揭示了四個連續的看跌每月蠟燭。

While the altcoin is currently trading at $1,734.48, down 18.47% over the month, the current market structure is showing a sustained bearish trend that has not been seen since the bear market of 2022.

儘管AltCoin目前的交易價格為1,734.48美元，在本月下降了18.47％，但目前的市場結構顯示出一種持續的看跌趨勢，這是自2022年熊市以來一直沒有看到的。

With each monthly candle close taking place below the previous month’s low, analysts are beginning the debate about whether ETH is approaching a bottom or if there is more downside ahead for the altcoin.

隨著每月蠟燭關閉的時間都低於上個月的低點，分析師開始辯論有關ETH是否正在接近底部或Altcoin是否有更多的缺點。

ETH/BTC ratio hits new 5-year low

ETH/BTC比率達到新的5年低點

On March 30, the Ethereum/Bitcoin ratio dropped to a five-year low of 0.021. The ETH/BTC ratio measures ETH’s value against Bitcoin (BTC), and the current decline underlines Ether’s underperformance against Bitcoin over the past five years.

3月30日，以太坊/比特幣比率下降到五年低點為0.021。 ETH/BTC的比率衡量了ETH對比特幣（BTC）的價值，當前的下降強調了Ether在過去五年中對比特幣的表現不佳。

In fact, the last time the ETH/BTC ratio dipped to 0.021, ETH was valued between $150-$300 in May 2020.

實際上，在2020年5月，ETH/BTC比率上次降至0.021時，ETH的價值在150-300美元之間。

ETH/BTC 1-month chart. Chart: TradingView

ETH/BTC 1個月圖。圖表：TradingView

Data from the token terminal showed Ethereum’s monthly fees dropped to $22 million in March 20205, its lowest level since June 2020, indicating low network activity and market interest.

令牌終端的數據顯示，以太坊的月費下降到20205年3月的2200萬美元，這是自2020年6月以來的最低水平，表明網絡活動和市場興趣較低。

Ethereum fees represent the cost users pay for transactions, which is influenced by network demand. When network fees begin to drop, it indicates reduced network utility.

以太坊費用代表用戶支付交易的成本，這受網絡需求的影響。當網絡費用開始下降時，它表明網絡實用程序減少。

Despite the price action and revenue malaise, Ethereum analyst VentureFounder said that the ETH/BTC bottom could occur over the next few weeks. The analyst hinted at a potential bottom between 0.017 and 0.022, suggesting that the ratio might drop further before a recovery. The analyst said,

儘管價格行動和收入不適，以太坊分析師Venture Founder表示，ETH/BTC底部可能會在接下來的幾週內發生。該分析師暗示了0.017至0.022之間的電位底部，這表明該比率可能在恢復之前進一步下降。分析師說，

“The ETH/BTC ratio has been showing some interesting moves recently. Personally, I'm expecting the bottom to form around 0.017-0.022 over the next few weeks.

“ ETH/BTC的比率最近顯示出一些有趣的動作。個人，我希望在接下來的幾週內，底部的底層將在0.017-0.022左右。

We're currently at a critical fib level (0.021) which is also the low from May 2020 when ETH was 150-300.”

我們目前處於關鍵的FIB水平（0.021），這也是2020年5月ETH 150-300的低點。 ”

Historical odds favor a short-term bottom

歷史上有利於短期底部

Since its inception, ETH has registered three or more consecutive bearish monthly candles on five occasions, and each time, a short-term bottom was the result. The chart below shows that the most back-to-back red months occurred in 2018, with seven, but prices jumped 83% after the correction.

自成立以來，ETH已五次連續三個或更多的看跌每月蠟燭，每次是短期底層的結果。下圖顯示，最多的背靠背紅色月份發生在2018年，其中7個月是七個，但在更正後的價格上漲了83％。

In 2022, after three consecutive bearish months, ETH price consolidated in a range for almost a year, but the bottom was in on the third bearish candle in June 2022.

在2022年，經過連續三個看跌月，ETH Price在一個範圍內鞏固了將近一年，但底部是2022年6月的第三枚看跌蠟燭。

Historically, Ethereum has a 75% probability of having a green month in April.

從歷史上看，以太坊在四月有綠色月份的可能性為75％。

Related: Eric Trump’s ‘add ETH’ advice has almost wiped out $100k in 7 months

相關：埃里克·特朗普（Eric Trump）的“添加ETH”建議在7個月內幾乎已經刪除了10萬美元

Based on Ethereum’s past quarterly returns, the altcoin experienced the least number of drawdowns in Q2 compared to other quarters. With the average returns in Q2 as high as 60.59%, the likelihood of positive returns in April.

根據以太坊過去的季度收益，與其他季度相比，Altcoin的跌幅最少。隨著第2季度的平均收益高達60.59％，四月的正值可能性。