Ethereum Bullish Signal: Exchange Inflows Decline To Low Values

On-chain data shows the Ethereum exchange inflows have declined to low values recently, a sign that could be bullish for the crypto’s price.
Ethereum 7-day MA Exchange Inflows Have Gone Down In Recent Weeks
As pointed out by an analyst in a CryptoQuant post, the ETH price has been reversing up as the PoS merge comes near.
The “exchange inflow” is an indicator that measures the total amount of Ethereum moving into wallets of all centralized exchanges.
When the value of this metr