Ethereum (ETH) Bulls Brace For Quick Drop As Charts Predict 10% Downswing

Ethereum (ETH) price has shown signs of a potential downturn as it reached an exhaustion of bullish momentum, signaling a possible drop in the near future. According to analysts, ETH has produced a clear sell signal, indicating a shift in the cryptocurrency's trend.

Timeline of Ethereum

RockX, a blockchain node network headquartered in Singapore, announces the launch of Bedrock — the world's first AML and KYC compliant, institutional-grade Ethereum liquid staking platform to have gone live to the public.

Holders of Ethereum [ETH] savored the surreal rise of the cryptocurrency over the last two weekends. Because of the hike in value, the demand for the altcoin king significantly increased even as the price touched $1,800.

On March 17th, the Ethereum coin price gave a decisive breakout from the resistance trendline of the megaphone pattern. The pattern formation itself is a sign of uncertainty among participants accentuating an unclear trend the ETH price witnessed since February 2023.

The value of Ethereum has been causing unease among investors due to the growing possibility of a decline in price. As Ethereum continues to experience fluctuations in value, investors are closely monitoring the situation to determine whether they should hold or sell their investments.

Coinsilium Group Ltd (AQSE:COIN, OTCQB:CINGF) told investors that a new ‘multiverse' non-fungible token (NFT) standard (ERC-5606), developed in a project backed by the company, has now been approved on Ethereum. The NFT standard is described, in a statement, as a significant contribution to building interoperable Web3 infrastructure on the Ethereum blockchain, and, it is  fully compatible with, the most popular NFT standards today (ERC-721 and ERC-1155).

Although the price of Ethereum (ETH) has recently reached a seven-month high, demonstrating an increase in demand, the network hasn't seen an increase in transaction fees, which indicates that the value of the Ethereum coin could continue to grow.

Microsoft, the software conglomerate, has introduced an Ethereum-based cryptocurrency wallet in the testing version of its Edge web browser. The new feature, which software sleuth Albacore discovered, is named “Crypto Wallet” and would allow users to store and transact Ethereum and Ethereum-based tokens in a non-custodial way, acting like a Metamask clone.

In anticipation of the Shanghai Capella Upgrade on Ethereum mainnet in April 2023, liquid staking platform Lido Finance [LDO] has witnessed a significant increase in its total value locked (TVL) as Eher [ETH] stakers look forward to the unlocking of previously locked ETH tokens.

Tech titan Microsoft is reportedly working on a new feature that enables users to send and receive crypto assets through its default web browser. First reported by BleepingComputer, software documenter Albacore shared screenshots of a new Ethereum (ETH) wallet that Microsoft is planning to integrate into its Edge browser.

One of Australia's largest bank, National Australia Bank (NAB), has broken the blockchain barrier by becoming the first major financial institution to complete an intra-bank cross-border transaction on the Ethereum blockchain using its own NAB-issued stablecoin.