Ethereum Signals Potential Market Bottom: Dragonfly Doji & On-Chain Optimism

Ethereum is showing early signs of a potential market bottom with the appearance of a rare Dragonfly Doji on its monthly chart. This pattern, known for signaling reversal zones in past cycles, precedes Ethereum’s breakout in 2017. Additionally, the MVRV Z-Score has re-entered its accumulation zone, suggesting strong long-term holder confidence, and the upcoming Pectra upgrade promises scalability improvements that could bolster ETH’s recovery path. Analysts are optimistic as this confluence of positive signals fuels anticipation for a powerful rally in years to come.