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11/30 14:22
Ether Could Jump 7% as Low Stablecoin Yields Signa
Ether Could Jump 7% as Low Stablecoin Yields Signal More Upside: Santiment
Yield data between 3.9% and 4.5% suggests leverage remains muted.
Ether may be poised for a short-term rebound, with onchain data suggesting the market has not yet reached overheated conditions, according to crypto analytics platform Santiment.
Key Takeaways:
- Santiment says low stablecoin yields show the crypto market is not overheated and Ether could test the $3,200 level.
- Yield data between 3.9% and 4.5% suggests leverage remains muted, reducing the risk of a near-term market top.
- Technical signals and $312.6M in Ether ETF inflows point to returning confidence after a sharp recent decline.
In a report published Saturday, the firm said muted stablecoin yields point to room for further price gains, with Ether potentially revisiting the key $3,200 level.
“Currently, yields are low, around 4%. This indicates the market has not reached a major top and could still push higher,” Santiment said, noting that Ether was trading near $3,001 at the time of the report.
That target implies an upside of nearly 7% from recent prices around $2,990, based on CoinMarketCap data
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