Stablecoin yields not being overly high suggests the market hasn’t reached a “major top” and Ether may reach $3,200 in the near term, according to Santiment.
Ether’s price may rise nearly 7% in the near term, as subdued stablecoin yields suggest the crypto market has yet to reach overheated conditions, according to crypto sentiment platform Santiment.
“Currently, yields are low, around 4%. This indicates the market has not reached a major top and could still push higher,” Santiment said in a report on Saturday, forecasting that Ether (ETH) could revisit its $3,200 resistance level soon.
This represents an approximate 6.7% increase from its price of $2,991 at the time of publication according to CoinMarketCap.
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