ETH Could Revisit $700 as Delta Price Indicator Flashes Warning Signs

On-chain analyst Ali Martinez has been tracking the Delta Price indicator, which he believes could predict Ethereum's next bottom. The metric, developed by crypto analytics firm Alphractal, measures the relationship between miners' production costs and the average investor's entry price.

The Delta Price indicator has a history of accurately predicting past bottoms for ETH, but its relevance in the post-Proof-of-Stake (PoS) era is debated. Martinez notes that if history repeats itself, ETH could retest $700 before entering its next uptrend.