Analysts say ETH may have completed the bottoming of this round of market, and on-chain indicators show that it may be close to the reversal range

Planet Daily News: According to crypto analyst Ali Martinez's social platform post, ETH may have completed the clearing phase of this market cycle. He pointed out that ETH's "entity adjustment dormant flow" has fallen below 1 million, and this on-chain indicator usually suggests a macro bottom area, indicating that ETH might be undervalued, with long-term holders showing no intention to sell, and potentially suggesting "smart money" is accumulating at low levels. ETH's current price is around $1,557, down 17% from two years ago, while BTC has risen nearly 100% during the same period. Despite low market sentiment, Martinez warns that if selling pressure continues, ETH might further drop to $1,200. However, analyst NotWojak believes ETH could break through and explore $1,835. Additionally, traders note that BTC market dominance (BTC.D) is approaching its peak, potentially paving the way for a short-term Altcoin rebound. Currently, BTC.D is around 63.5%. (newsbtc)