This Pattern Suggests Ethereum Is In Accumulation Phase — What's Next?

On-chain data signals Ethereum may be entering an accumulation phase that could reduce sell pressure and set the stage for a renewed bullish cycle. CryptoOnchain’s Quicktake highlights the 365-day SMA of Ethereum exchange netflow on Binance falling to its lowest level since May 2024, implying sizable outflows to self-custody and long-term holders. Historically, extreme lows in this metric have preceded major upward reversals in ETH. Near-term price action showed about a 3% decline over 24 hours to roughly $2,353—partly tied to geopolitical-driven market stress—but ETH remains up ~2% over the past seven weeks. Analysts say a decisive upward pivot in the netflow SMA would help confirm the transition from accumulation to a fresh macro uptrend, which could be market positive for ETH.