How strong the ether looks

The ether rate has not yet updated yesterday’s peaks at $676.61, but it looks quite confident. The main trading of ETH on Friday, December 18, is near $649.

On the daily chart, the ETH/USD pair continues to update its highs. At this stage, we can expect that the quotes will make a return to the Fibonacci 38.2% level for its testing, after which they will continue the upward trend. Histogram of MACD indicator is still above the zero level, which is an additional signal in favor of growth of the quotes. The trading situation may continue to develop into a pullback in the nearest future, after which the uptrend will resume. Target level for the growth is the nearest resistance level of $685.

On the 4-hour timeframe the pair shows a similar picture to the daily chart: quotes are testing the resistance level within the ascending channel. After the correction, the coin has all chances to continue the upward trend. The Stochastic indicator is in the overbought zone and forms a „Black cross“, which increases the probability of correction before the development of growth. The $685 level is a target benchmark for the strengthening of the coin (as well as on the higher timeframe), says Dmitry Gurkovsky, lead analyst of RoboForex.

Ethereum technologies can help the U.S. government solve problems related to supplying a large number of antiviral materials to the population. Right now, medical companies are negotiating with the federal government to come up with a solution that can meet the demand for vaccines. A potential strategy is to use the Defense Production Act of 1950, which allows the authorities better control of pro-industrial production. There is functionality here that can be expanded depending on emerging needs.

In this situation, the capabilities of the Ethereum blockchain, which uses a peer-to-peer payment chain that makes working with suppliers much easier, could work effectively. Ethereum has tremendous coverage of payment systems, making it easier to send money. Ethereum is known to use smart contracts to keep information private, and U.S. authorities can take advantage of them, too, by implementing appropriate instructions. As a result, it would speed up the delivery of medications, optimize interaction schemes, and save money on transactions. It’s up to the authorities.