Ethereum price struggled to regain momentum in mid a persistent downward trend. After closing the last four months in the red, the world’s second-largest cryptocurrency shows no signs of relief in January 2026. On-chain data shows that Ethereum’s current trajectory reflects past cycle downturns, raising the possibility of a new price drops and prolonged bearish sentiment.
Ethereum price nears fifth straight month of losses
Ethereum is present a prolonged crisismarking its fourth straight month of losses in 2025. As the market heads through the final week of January, the cryptocurrency is poised to potentially close a fifth straight month in the red, a streak that would reinforce the downward trend continues.
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CryptoRank On-Chain Data watch that throughout 2025, Ethereum experienced more red months than green months. The cryptocurrency started the year with four straight months of decline from January to April, followed by a brief recovery in May, only to fall again in June. After that, ETH posted two months of gains, ending July and August in the green. However, this recovery was short-lived and since then the cryptocurrency has been in a downward trend.
During its last four-month decline, CryptoRanks reported that Ethereum closed September down 5.59%. The downward trend accelerated in late November, with the cryptocurrency crashing 22.2%, more than four times the decline of the previous monthly close. December 2025 was another month in the red, although the decline was much smaller, at just 0.83%.
Today, in January 2026, Ethereum is still in a downtrend. On-chain data indicates that the cryptocurrency has already fallen by 1.78% this month and shows no certainty. signs of a bullish reversal. Additionally, at the time of writing, ETH is trading above $2,900, reflecting a decline of approximately 5.95% over the past week.
What a Red January Could Mean for ETH
The last time Ethereum closed five consecutive months in the red was in 2018. That year, Ethereum has significantly underperformedrecording gains in just 3 months out of 12. The cryptocurrency has posted continued monthly losses, with November marking its largest monthly decline at 42.5%.
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After a four-month closing streak, Ethereum’s downtrend persisted for another two months before experiencing a strong but brief recovery in December 2018. Despite this temporary rebound, the cryptocurrency closed January 2019 in the red, down 20%.
If history were to repeat itself in the current cycle, Ethereum could end January on a downside, similar to its 2018 performance. Interestingly, historical data shows that February has often been a bullish month for ETH. However, The year 2025 saw declines compared to January until April; it is uncertain whether Ethereum will follow past uptrends. For now, what is certain is that the price of ETH is falling and would need a significant increase in its price. bullish momentum.
Featured image from iStock, chart from Tradingview.com
