Ethereum analysis for April 26, 2021
Looking at the chart on the four-hour time frame, we see that Ethereum is a real pullback after reaching the new high. And based on the previous highs and lows, I could draw a growing channel and use it as the next zone of Ethereum movement. We are currently above moving averages and are likely to test the upper resistance line above $ 2600.
Otherwise, if we see that Ethereum is weakening again, we first look for support in moving averages, and if a break occurs, our next support is MA200 and EMA200. Our maximum pullback is the bottom line of this growing channel, around $ 2000. We have a bullish signal looking at the MACD indicator because the blue MACD line crossed over the signal line supporting this smaller within the bullish channel trend.
Ethereum ConsenSys has created a technical partnership with the Cocoa block Klaytn to develop a private platform for issuing South Korean CBDC. Klaytn is a public blockchain developed by Ground X, connected to the South Korean internet company Cocoa blockchain. Best known for its Cocoa Talk messaging app, Cocoa has since, among others, branched out into the shopping and travel industry.
In 2019, the company started working on the blockchain Klaytn, which has the 25th largest market limit in the area of cryptocurrencies until the moment of publication. Kleiyn is a branch of the Ethereum blockchain. However, public or decentralized attributes of Ethereum are generally not desirable by the government or institutional entities.
The private chain is being built to “reflect growing data protection concerns among financial institutions,” the statement said
The central bank’s CBDC, or digital currencies, are digital versions of national currencies, and central powers must supervise such. Nevertheless, ConsenSys’ plan to make its pending private network compatible with existing public blockchains suggests that national CBDC platforms should not be silenced as initially expected.
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