As the broader sentiment improves, the king alt recovered from the 61.8% Fibonacci support and crossed its 4-hour 20-SMA.
On the other hand, Terra jumped above its 20-50-200 after clawing back to its 38.2% support level. Although Ethereum, Shiba Inu and Terra noted double-digit gains from their long-term supports, they needed to back it up with enough volumes to confirm a strong move.
Ether (ETH)After poking its 15-week low on 10 January, ETH rebounded from the 61.8% Fibonacci support and grew by over 10.7% in the last two days. ETH upturned after the price bullishly diverged with the RSI.
Although the King alt was yet to reclaim the 50% support level, it found a close above the 20-SMA (red) and the $3,200 level. From here on, the next hurdle for ETH bulls stood at the 50-SMA (cyan).
Crypto assets within the Cosmos ecosystem have been on a run since the start of 2022, thanks to an intensified focus on brokering cross-chain compatibility with other blockchains. One decentralized finance (DeFi) protocol that has benefited from the current expansion plans is Osmosis (OSMO).
Osmosis is the first decentralized exchange (DEX) servicing projects connected through the Interblockchain Communication Protocol (IBC) and data from Cointelegraph Markets Pro show OSMO price surged 123% from a low of $4.05 on Dec. 17 to a new all-time high at $9.24 on Jan. 7.
Three reasons for the price growth seen in OSMO include a surge in trading volume on the DEX, a record high in the total value locked on the protocol and the release of cross-chain bridges that connect the Cosmos (ATOM) ecosystem with other Ethereum (ETH) Virtual Machine (EVM) compatible networks.