Ethereum Faces Selling Pressure After Brief rally
EthereumS price dipped below $1,600 today, following a brief surge to $1,653. this movement mirrored Bitcoin’s recent rally. initially, Ethereum (ETH) broke through key resistance levels at $1,600 and $1,620 but faced selling pressure that halted its climb.Currently trading around $1,575, ETH is down 3.10% over the past week, according to crypto.news data.
Ethereum co-founder Vitalik Buterin suggested replacing the Ethereum Virtual Machine with RISC-V to enhance performance and scalability. RISC-V, used in zero-knowledge EVMs, could boost proving efficiency by over 50 times.This proposal maintains backward compatibility while shifting backend computation to RISC-V. It comes as Ethereum faces multi-year lows in network activity and transaction fees.
Will Ethereum recover? Despite the recent pullback, ETH shows higher lows, indicating active buyers. Analysts note a break from its downtrend since February 2025. If Ethereum holds the $1.6K level, it could rise to $2K in April.
However, some analysts, like Peter L. Brandt,predict ethereum could fall to $800,similar to its 2022 low.This article is for educational purposes only and does not constitute investment advice.
