Ethereum just logged its sixth straight red monthly candle, matching a rare downside streak last seen in 2018. Meanwhile, ETH traded near $1,994 as it retested a key descending trendline, with traders watching for either a dip into the $1,800s or a push toward $2,222. Ethereum Logs Sixth Straight Red Month, Echoes 2018 Bear Market Pattern Ethereum posted its sixth consecutive red monthly candle, a pattern that has appeared only once before in its trading history. According to market commentator Tyler Durden on X, Ethereum recorded six or more straight monthly declines only during the 2018 bear market. At that time, the seventh red candle marked the cycle bottom. Ethereum Monthly Candles. Source: TradingView/X Historical monthly data from TradingView shows that in 2018 Ethereum declined for seven straight months as the broader crypto market corrected from prior highs. After that seventh red candle closed, price action stabilized and later reversed into a new cycle. The current streak now matches six consecutive monthly losses, placing the asset near a historically rare level of sustained downside pressure. As a result, traders are comparing the present structure with the 2018 setup. While past performance does not determine future outcomes, the historical reference point highlights how extended monthly drawdowns have previously aligned with late stage bear market conditions. Ethereum’s current monthly close will determine whether the streak extends to seven and whether the comparison with 2018 strengthens further. ETH Retests Descending Trendline as Trader Flags Possible Dip Before Push Toward $2,222 Meanwhile, Ether traded near $1,994 on Binance’s ETHUSDT 1 hour chart as price pressed back into a descending resistance line that has capped several rallies since the prior swing high. The move placed ETH at a familiar decision area, because the chart shows repeated selloffs whenever price met that upper trendline, followed by rebounds from a rising support line that has held since the earlier lows. ETHUSDT 1H Chart. Source: DJ (@0xDeejay) on X The latest sequence shows ETH spiking above the trendline toward the low $2,000s, then slipping back underneath it as the retest formed. That behavior often marks a “retest” of former resistance, where buyers try to turn the level into support while sellers defend the prior ceiling. If price holds around the trendline and regains the nearby swing area around $2,040 to $2,080, the chart opens room toward the prior highs near the low $2,100s. If the retest fails, the chart’s next visible demand zone sits around the rising lower trendline, roughly in the high $1,800s. The drawing on the chart maps a deeper flush toward the mid $1,800s before a rebound, which would fit the idea of a shakeout that removes late long positions. In an X post, DJ (@0xDeejay) said ETH “seems like we are retesting the upper trendline,” and added that while a bounce looks possible, he expects a drop to shake out “late longers” before a move that targets $2,222.
