ETH has now entered the sell zone. I noticed that the Z-score indicator has moved to -0.42. This shows that the gap between the market price and the realized price has narrowed. Some traders think the market is close to the bottom, but not everyone agrees.

Look, the historical minimum of the Z-score was around -0.76 at (2018 and in 2022 ), so the current value of -0.42 isn’t that low yet. This could mean there’s still risk of further downside for ETH’s price. But there’s another thing—ETH’s fundamentals haven’t actually deteriorated. Chain activity, protocol development—everything is improving.

So is this really the bottom? It’s too early to say. But considering indicators like the Z-score, it seems like a good time to observe. The window for an opportunity to invest in ETH might just be opening now.