Ethereum analysis for May 4, 2021

Looking at the chart in the four-hour time frame, we see that Ethereum is recording a slight retreat after a new historical maximum, creating new potential momentum for the next bullish impulse. After the new high at $ 3458, we find a shorter withdrawal and support at $ 3200. Now we are looking up again targeting targets above $ 3500. moving averages are far below, providing good support directing us to higher levels on the chart. Looking at the MACD indicator, we see that we are in a strong bullish trend, with less weakening, but within the consolidation framework until the next impulse.
The price of Ethereum has jumped to new highs all the time as eBay reportedly explores NFT auctions, the giant e-commerce platform eBay reportedly explores NFT auctions as well as Bitcoin payments. ETH reached a market capitalization of 370 billion dollars, almost quadrupled Binance Coin, although it also recorded a mass rally.
Jamie Iannone, CEO of eBay, said in an interview with CNBC that the company is researching a new form of payment. eBay recently introduced Apple Pai and Google Pai to provide users with more features. Iannone noted that cryptocurrencies are interesting as payment options, and NFTs like eBay is also known as a place to do business, adding: With 170 million customers on the platform, this is where sellers come to achieve higher demand. We look at it and explore the possibilities.
When you think of collecting, everything that can be collected has been on eBay for decades and will be for the next few decades. The CEO also stated that eBay will still need time to enable NFT auctions. It is important to understand that the term NFT comes from non-fungible tokens built on Ethereum. About 99% of all NFTs are on Ethereum and will most likely stay there.
Everything that uses NFTs benefits Ethereum. To add confidence to the bull’s appearance, it is important to check many Ethereum coins locked from the stock market. Currently, ETH is worth about 69 billion dollars in Defi protocols.