Ethereum’s price has maintained notable strength in recent weeks, giving many investors reason for cautious optimism. The asset briefly traded near $4,700 last week, close to its all-time high of $4,878 recorded in 2021, before correcting to its current level around $4,633.
Despite this pullback, Ethereum is still up nearly 30% over the past month, according to CoinGecko data, putting a majority of holders back into profit.
This indicator measures whether more ETH is moving onto exchanges (inflows) or off of them (outflows), providing insight into potential selling pressure or long-term accumulation behavior.
What we’re seeing now is consistent negative netflow, meaning ETH is leaving exchanges. This generally reduces immediate selling pressure and supports the case for ongoing bullish momentum.
The price action aligning with these signals reflects a market where participants are more inclined toward accumulation than distribution.
Ethereum’s strong performance is also being interpreted through a technical lens. Several traders have pointed out that ETH has broken out against Bitcoin after years of relative underperformance.
A crypto analyst known as CryptoBatman on X highlighted the significance of this trend, arguing that Ethereum’s rally could be entering a new phase of market recognition.
It’s actually crazy to think about the upside potential this market holds, as Ethereum’s recent rally is already insane.
Featured iameg created with DALL-E, Chart from TradingView
