The price of Ethereum has somewhat slowed down over the weekend after a breakdown of negotiations between the United States and Iran. However, the latest on-chain data suggests that this moment of uncertainty has barely impacted the market structure of the second-largest cryptocurrency by market cap. According to a prominent analyst, the Ethereum price seems to be at a turning point, which could usher in a fresh bullish cycle.
ETH May Be Near A Major Uptrend
In a Quicktake post on the CryptoQuant platform, CryptoOnchain revealed that significant amounts of the Ether tokens have been flowing out of Binance, the world’s largest cryptocurrency exchange by trading volume. This on-chain observation is based on the 365-day Simple Moving Average of Ethereum Exchange Netflow on Binance.
According to CryptoOnchain, this metric has been in a steady decline, recently falling to its lowest level since May 2024. Typically, this trend is often a bullish indicator for prices, as it sug
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