Ethereum Bulls Eye $3,500 As ETH Net Flows Turn Negative! 🚀
Good news for #Ethereum holders! For most of the past week, ETH net flows have been negative, with a significant -$182.86 million in the last 24 hours alone, and -$140 million over the last 7 days.
What does this mean? 🤔 Negative net flows suggest more ETH is leaving exchanges than entering, indicating buying pressure is outweighing selling pressure! This is a bullish signal for the asset.
While longer timeframes (15-day at +$186.48M and 30-day at +$483.54M) still show some deposits, the recent trend is clearly favoring accumulation.
Price Target? 📈 Crypto analyst Captain Faibik suggests that if bulls can reclaim the 200-Day Simple Moving Average (currently at $27,000), #ETH could target above $3,500 in the near term!
Keep an eye on those net flows – a continued negative trend could fuel the next ETH rally!
#ETH #Ethereum #CryptoNews #MarketAnalysis #Bullish