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Ethereum network flows were mostly negative during the past week, and this continued It suggests the bullish momentum It is a price building. These numbers show the amount of purchase and sale that can happen and how investors look at digital assets at the present time.
Ethereum network flows are bounced around
The net flows indicate the difference in the number of coins that enter or leave encryption exchanges over a certain period of time. If the network flows are positive, then this means that More eth flows to the exchange of encryptionWhich can indicate sales, investors benefit from price increase. However, if the net flows are negative, this indicates that more coins leave the exchanges more than those that enter. Thus, it may indicate the purchase of pressure higher than sales.
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Currently, Coinglass data He appears Ethereum network flows were heading towards negativity for a while now. 24 -hour net flow volumes show -182.86 million dollars, as more coins have been transported from encryption exchange during this time.
This also continued with six out of seven days that showed that net flows are negative. This means that there was More eth leaves encryption exchange From those who go to the stock exchanges for sale. Thus, showing that the purchase is still arranging today. In this 7 -day period, the net flows of Ethereum -140 million dollars sit.
However, after returning, in the time frame for 15 days, investors still tend to sell. This period of time shows $ 186.48 million in net flow also, which explains the reason The price of Ethereum appears to be pent -up Despite the work of the new Bitcoin at all ..
The 30 -day period does not differ, which indicates larger deposit trends. In total, Ethereum investors have moved more Eth In the exchange of encryption, causing clear flows to $ 483.54 million during this time.
What can happen to the price if the net flows remain negative
If ETHEREUM network flows continue to negative and grow from here, they will indicate high purchase pressure. Once buyers can excel the sellers, the ETHEREUM price can start in the gathering again.
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As for the high price of ETHEREUM, the Captain Vibik analyst has Make up The bulls are still struggling to restore The simple moving average is 200 days at 27,000 dollars. Now, if they are able to pick up this level and get out of it, the analyst believes that the price exceeds $ 3500 in the short term.
Distinctive image from Dall.e, Chart from TradingView.com
