New data from the market intelligence platform Santiment indicates that Ethereum (ETH) may be on the cusp of a breakout.
In a new strategy session, the crypto analytics firm says one metric that historically precedes a recovery for the top altcoin is flashing bullish.
According to Santiment, Ethereum’s operation fees are currently at a low, which tends to precede a price rebound for the second-largest digital asset by market cap.
“From a trading perspective, historically low fees like this will often precede price rebounds, making buys at these levels generally considered to be lower risk than usual.
Generally, fee levels under $1 are a pretty promising sign that the crowd has become disinterested. Just remember that there is no set guaranteed ‘bottom’ or ‘top’ level every time fee costs breach below or above a certain level.”
Santiment’s chart shows that the last time ETH fees were…
