Crypto markets have continued their consolidation for another day but decentralized finance markets are hitting record levels again as Ethereum collateralized crypto savings rates approach double figures while ETH gets a golden cross.
Ethereum Golden Cross
Ethereum prices themselves have managed to cling on to $190 today following a brief dip overnight. ETH is close to the cracking the psychological $200 barrier which may even occur before the end of the week.
Prices are now back to early November levels as a golden cross forms on the daily time frame. The 50 day moving average has just reached the slower moving 200 day indicator and will cross it today.
This is a long term trend reversal signal that last occurred in April 2019 when Ethereum was similarly priced. Following the cross came a 90% surge in prices to top out over $350.
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