Analysis: On-chain data shows that ETH may have completed its bottoming out

ChainCatcher news, cryptocurrency analyst Ali Martinez stated that Ethereum (ETH) may have completed the bottoming phase of this market cycle.

Data shows that the Entity-Adjusted Dormancy Flow indicator for ETH recently fell below 1 million. Historically, this low level of the indicator usually signals a macro bottom region, indicating that ETH may be undervalued and long-term holders are less inclined to sell.