Ethereum Netflow Data and Price Movement Relationship

Ethereum-Netflow-Data-and-Price-Movement-Relationship

Since August 2023

We have witnessed that the Ethereum price has moved upwards after the netflow data accumulated in the negative zone.

When we look at the 14-day EMA, we have witnessed a slight selling pressure whenever it entered the positive zone (yellow dots).

Current Data

We have witnessed that the Ethereum netflow data has been accumulating significantly in the negative zone in the last 8 days.

Conclusion

This data indicates that the Ethereum price movement may be upward in the coming days.