ETH may reclaim $3.2K soon, based on low stablecoin yields: Santiment

According to crypto sentiment platform Santiment, Ether (ETH) may soon revisit its $3,200 resistance level, representing a potential nearly 7% rise from its recent price of $2,991. This optimistic forecast is based on the observation that stablecoin yields are currently low, averaging around 4%. Santiment views these low yields as an indicator that the crypto market has not yet reached a "major top" characterized by excessive speculative leverage, which historically precedes market peaks. Although Ether has declined 21.85% over the past 30 days following a major market liquidation event, technical signals are improving, including the ETH-BTC Weekly approaching a bullish ribbon flip. Furthermore, spot Ether ETFs saw $312.6 million in net weekly inflows after previous heavy withdrawals, suggesting improving sentiment.

(Source：Cointelegraph)