Ethereum net flows have been mostly negative for the last week, suggesting bullish momentum building up for the price.
Currently, Coinglass data shows that Ethereum net flows have been skewing toward negative with a 24-hour net flow volume of -$182.86 million.
Over the past seven days, there have been more ETH leaving crypto exchanges than those going in, indicating stronger buying pressure.
If Ethereum net flows continue to remain negative, it could signal a rise in buying pressure, potentially pushing the price above $3,500 according to analyst Captain Faibik.