
The risk-on mood has proved salubrious for the financial markets, and cryptocurrencies are no exception, especially Ethereum (CRYPTO: ETH), which has been a standout.
Ethereum On A Tear: Since peaking at $4,891.70 on an intraday basis on Nov. 16, 2021, Ethereum was on a secular decline until January 2022. A consolidation phase followed, with the crypto moving sideways in a broad range of 2,350-3,500, stung by global economic worries. It moved below the range in early May and was seen going into a free fall until mid-June.