Ethereum to drop below $1,800 before rebound; Time to accumulate ETH?

As Ethereum (ETH) moves to consolidate the gains from previous days and weeks, the second-largest cryptocurrency by market capitalization might be in for a further decline before bullish continuation, giving interested investors an opportunity to accumulate it in time.

Timeline of Ethereum

Ethereum Price Analysis: For nearly a month the Ethereum price has shown a silent recovery under the influence of a broadening channel pattern. Despite the recent volatility in the crypto market the ETH price has strictly resonated within the diverging trendlines of this pattern, accentuating the significant influence of this setup.

At the Ethereum Community Conference (EthCC) in Paris, Ethereum co-founder Vitalik Buterin gave an insightful presentation on the history and evolution of “account abstraction” on the Ethereum blockchain. Account abstraction is a feature in Ethereum that aims to make the system more flexible and easier to use.

Despite tens of billions raised and lost in the name of disruptive crypto innovations, the alternative technology has yet to produce a breakthrough product, even in video gaming. Mysten Labs' CEO says that's because nobody's done it right yet.

While most crypto market watchers remain focused on Bitcoin's ongoing struggle with $31,000, Ethereum recently closed above the psychologically important $2000 level for the first time in weeks. Now poised to close lower for four straight days, let's take an evidence-based approach and determine whether four consecutive days lower for Ether is historically bullish or bearish going forward.

Ethena, a blockchain startup for Ethereum-backed stablecoins, has reportedly secured $6 million in a seed funding round. Axios reported on Monday that the startup's funding round was led by Dragonfly Capital, a leading Web3 venture firm. Other prominent investors to back Ethena in the round were crypto platforms Deribit, Bybit, Gemini, OKX, and Huobi.

Ethena, a crypto start-up, has achieved a significant milestone by securing an impressive $6 million in seed funding, according to a report from Axios. The funding round, led by prominent investment firm Dragonfly, demonstrates growing interest in Ethena's cutting-edge stablecoin project.

Unstoppable Domains, a digital identity platform, is expanding its Web3 offerings by introducing support for Ethereum Name Service (ENS) domain endings. This move will allow holders to establish their digital identity on the Ethereum (CRYPTO: ETH) blockchain using .eth domain endings, Coindesk reported.

Ethereum price wobbles 0.8% while exchanging hands at $1,915 on Monday. The second-largest crypto battled an aggressive take-profit drive over the weekend, with ETH sliding from almost a three-month high achieved last week at $2,015.

Blockchain network Gnosis, a sidechain to Ethereum (CRYPTO: ETH), has announced the launch of Gnosis Pay and Gnosis Card, marking a significant step towards integrating cryptocurrency with traditional payment systems. Gnosis Pay is the first decentralized payment network that allows web3 developers to integrate with various traditional payment schemes, including Visa, Gnosis said Monday.

The Ethsubscriptions protocol, a groundbreaking initiative allowing users to create and share digital objects on the Ethereum blockchain, has encountered a significant setback due to a recent hack on its main marketplace. Launched just last month by Tom Lehman, co-founder and former CEO of Genius.