Ethereum fell below the $1,600 mark today after a temporary peak at $1,653 in a day.
The price movement reflects Bitcoin's recent rally, with Ethereum (ETH) breaking over major resistance at $1,600 and $1,620 before initially facing sales pressure to stop climbing.
According to data from Crypto.News, ETH has been trading at around $1,575 in the last seven days.
Ethereum co-founder Vitalik Buterin recently proposed replacing the Ethereum Virtual Machine with RISC-V to improve performance and scalability. He argued that the RISC-V, already used in zero-recognized EVMs, can prove more than 50 times more efficient.
This proposal maintained backward compatibility while shifting the backend computation process to RISC-V. Ethereum came as it faced multi-year lows in network activity and transaction fees.
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Will Ethereum be lower?
Despite the recent pullback, ETH shows a higher low, suggesting that buyers are still active. Analysts point to a break from the downtrend for the first time since February 2025. If Ethereum is able to hold the 1.6K level, it could rise to $2K in April.
More pessimistic analysts, including veteran commodity trader Peter L. Brandt, predict that Ethereum could hit a $800 low, similar to its 2022 low.
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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
