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

CoinRank News: According to Ali Martinez, a crypto analyst, ETH may have completed the clearing phase of this market cycle. He pointed out that ETHs physical adjustment dormant flow has fallen below 1 million. This on-chain indicator usually indicates the macro bottom area, indicating that ETH may be undervalued, long-term holders have no intention of selling, and there may be smart money accumulating at low levels. The current price of ETH is about $1,557, down 17% from two years ago, while BTC has risen nearly 100% over the same period. Although market sentiment remains depressed, Martinez warned that if selling pressure continues, ETH may fall further to $1,200. But some analysts, NotWojak, believe that ETH is expected to break through and test $1,835. Another trader pointed out that BTCs market capitalization share (BTC.D) is approaching a high, which may pave the way for a short-term rebound in altcoins. Currently, BTC.D is about 63.5%. (newsbtc)