Analysis: On-chain data shows that ETH may have already bottomed out
In a message from ChainCatcher, cryptocurrency analyst Ali Martinez stated that Ethereum (ETH) may have completed the bottoming phase of this market cycle.
Data shows that the ETH Entity-Adjusted Dormancy Flow indicator recently fell below 1 million. Historically, low levels of this indicator usually signal a macro bottom area, suggesting that ETH might be undervalued and long-term holders are less likely to sell.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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