Ethereum analysis for April 28, 2021
Looking at the chart on the four-hour time frame, we see that after reaching the all-time high at $ 2719 yesterday, we now have a pullback to the current $ 2600. We are still in this growing channel. The pullback is always a realistic option and expected to stabilize the chart slightly before the next major move. If a pullback occurs, the maximum withdrawal for can be expected to move to the moving averages of the MA200 and EMA200 at around $ 2200-2300.
Looking at the MACD indicator, we see a current weakening of the bullish trend, which may turn into a bearish trend because the blue MACD line makes a turn from the upper levels of the indicator. And based on that, we can expect a shorter pullback. Ether (ETH) prices rose sharply to a new all-time high on Wednesday, thanks to positive news from the European Investment Bank.
Ethereum climbed to $ 2,709 early during trading in Asia on Wednesday, marking a new high asset price, according to CoinGecko. The crypto metric provider reports a gain of 7% in the last 24 hours and 15.7% in the last seven days for the second-largest digital asset in the world by market capitalization. The move pushed the market limit of ETH to a record 312 billion dollars.
Although there are a number of factors that affect Ether’s price, Reuters today attributed it to the news that the European Investment Bank is launching the sale of “digital bonds” using the Ethereum network. The EIB is issuing a two-year digital bond worth 100 million euros, and the sale will be led by Goldman Sachs, Banco Santander, and Societe Generale, according to Bloomberg analysts.
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