Analysis suggests that ETH may have completed the current market bottom, and on-chain indicators show it may be approaching a reversal zone.

Odaily News According to encryption analyst Ali Martinez's post on social media, ETH may have completed the clearing phase of the current market cycle. He pointed out that the "real adjustment sleep flow" of ETH has fallen below 1 million, a on-chain indicator that usually signals a macro bottom area, indicating that ETH may be undervalued, and long term holders have no intention to sell, suggesting that "smart money" may be accumulating at low levels. The current price of ETH is about $1,557, down 17% from two years ago, while BTC rose nearly 100% during the same period. Although market sentiment remains low, Martinez warned that if selling pressure continues, ETH may further dip to $1,200. However, analyst NotWojak believes that ETH is likely to break through and test $1,835. Additionally, traders pointed out that BTC's market capitalization ratio (BTC.D) is approaching a peak, which may pave the way for a short-term rebound in alts. Currently, BTC.D is about 63.5%. (newsbtc)