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

According to BlockBeats, on April 12th, cryptocurrency analyst Ali Martinez stated that Ethereum (ETH) may have completed the bottoming out phase of this market cycle. Data shows that the Entity Adjusted Dormancy Flow indicator for ETH has recently fallen below 1 million. Historically, low levels of this indicator usually indicate macro bottom areas, suggesting that ETH may be undervalued and long-term holders are less inclined to sell.