Ethereum is preparing to close June 2021 with a yield of -21%. At the time of this writing, Ethereum is trading at $2,130 a few hours before the monthly close.
Ethereum had its worst month since the start of COVID-19
If Ethereum can hold on to current levels, June will go down in history as the worst month for ETH since March 2020, when the coronavirus was declared a pandemic. You can see the monthly returns of Ethereum in the table below.
From the above data, it can be observed that Ethereum’s monthly return in March 2020 is at the level of -38%. ETH then continued to make significant gains in the crypto market through April and May 2020, reporting double-digit gains. It closed June 2020 with negative returns as it is now.
On the bright side, nine of the last twelve months have been positive for Ethereum in terms of returns.
ETH doing well, quarterly data
Ethereum’s performance looks even more encouraging when viewed in terms of quarterly returns. According to Bybt.com, ETH is on track to close the second quarter of 2021 with a return of 11.15%. Additionally, the cryptocurrency has closed its last six quarters in green as seen in the chart below.
In terms of price action, not much has changed as ETH is still trading above the critical $2,000 support and the 200-day moving average. The $2,000 price area is once again a level to watch during the monthly close for Ethereum tonight.
We should also note that a death cross for Ethereum is imminent in the next few weeks. Therefore, caution is advised when trading ETH on various derivatives platforms.