Ethereum’s price action over the past month has been very tight, trading within a range of $1,964 to $1,823, giving little to no clue about its future trajectory. However, ETH’s cumulative volume delta on Binance shows a clear improvement in the relationship between its price and buy and sell order flows, keeping the cryptocurrency’s bullish trend intact.
Negative CVD not a problem for Ethereum
According to exchange data received on Friday, ETH’s price hit a daily high of $1,885, while the CVD stood around -4,645 ETH. This shows that the net selling pressure on ETH is still dominant over its buying pressure during the period observed by the metric.
For the uninitiated, CVD measures the difference between aggressive buying and aggressive selling over time, showing whether buyers or sellers are dominating. A positive CVD indicates stronger buying pressure, while a negative CVD suggests stronger selling pressure.
In stark contrast, ETHs’ 30-day price-CVD correlation coefficient hit a reading of 0.682 – a relatively high positive metric. It clearly means that CVD movements have become correlated with price movements, with increased buying pressure coinciding with price increases.
Looking at ETH’s price action from June 2026, it has managed to recover from a low of $1,550 -posting a gain of about 20 percent in just about 2.5 months. This shows that the market has taken some of the selling pressure, with just enough demand to power the recovery in price.
However, the negative CVD indicates that ETH’s buying pressure has not quite yet become a dominant enough force. As a result, a high correlation does not exactly mean a direct bullish signal.
That said, if ETH’s price continues to make steady gains – alongside an improving CVD – it could then provide a stronger confirmation of the uptrend. Conversely, a decline in correlation with a persistently negative CVD, may suggest weakening momentum.
A spree of positive developments for ETH
Bullish macroeconomic developments, such as cooling U.S. inflation data are likely to help in the short-term.
Further, from a supply-side, an increasing amount of ETH is getting locked into staking contract, effectively reducing its active circulating supply.
From a technical standpoint, ETH is pointing toward a looming parabolic price action.
As reported by The Coin Headlines on Wednesday, ETH is replicating a setup that’s reminiscent of its 2023 move, which resulted in price appreciation to the tune of 60 percent.
