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Ethereum Price Surge and Vitalik Buterin’s RISC-V Proposal

Ethereum (ETH) price is displaying short-term gains at $1,643.48, with trading volumes up 51.45%. Analysts predict a cautious outlook with a bearish trend, despite recent advances. Concurrently, co-founder Vitalik Buterin proposes replacing the EVM with RISC-V, potentially reducing execution costs significantly while ensuring backward compatibility for existing contracts.

Ethereum (ETH) is presently trading at $1,643.48, marking a 3.26% increase in the last 24 hours. Trading volumes have surged by 51.45%, reaching $11.19 billion, indicative of renewed investor interest. Despite this short-term gain, ETH’s seven-day change remains slight at only 0.53%, suggesting a cautious overall outlook.

ETH has recently approached a resistance level at $1,635 after a prolonged consolidation phase. Although this movement appears robust on lower time frames, underlying trends reveal a bearish sentiment. The Relative Strength Index (RSI) indicates overbought conditions on both the 15-minute and 1-hour charts, while the Moving Average Convergence Divergence (MACD) suggests a potential exhaustion in momentum. Analysts recommend caution and view this price movement as a temporary relief rally rather than a definitive uptrend.

Traders are observing two key scenarios: executing a short position at current resistance or initiating a long position upon a confirmed breakout towards $1,680. Important support levels to watch include $1,600 and $1,530, which may influence future price actions significantly.

Market projections from Changelly outline a conservative forecast for Ethereum’s price leading into 2025. Analysts expect Ethereum to average around $2,993.84 next year, with estimates ranging from a maximum of $2,430.91 to a minimum near $1,867.98. For April 2025, predictions become even more restrained, suggesting fluctuations between $1,600.28 and $1,979.26, indicating a potential ROI of -38.1% to -49.6% depending on the entry point.

Vitalik Buterin has recently proposed a significant architectural shift for Ethereum. He suggests replacing the Ethereum Virtual Machine (EVM) with RISC-V, an open-source instruction set architecture. Detailed in a post on the ETH Magicians forum, Buterin claims this change could drastically lower on-chain execution costs by up to 100 times in specific applications.

This proposal is part of Ethereum’s long-term strategy to improve scalability and modularity. Importantly, Buterin has stressed the necessity for backward compatibility, ensuring existing EVM smart contracts remain functional through binary support and interpreters. The RISC-V model is not without precedent; similar approaches have been previously explored by platforms such as Polkadot’s PolkaVM in 2023. If implemented, Buterin’s proposal could signal a transformative shift for Ethereum, aligning its infrastructure with open computing standards and paving the way for increased adoption and operational efficiency.

Marcus Collins is a prominent investigative journalist who has spent the last 15 years uncovering corruption and social injustices. Raised in Atlanta, he attended Morehouse College, where he cultivated his passion for storytelling and advocacy. His work has appeared in leading publications and has led to significant policy changes. Known for his tenacity and deep ethical standards, Marcus continues to inspire upcoming journalists through workshops and mentorship programs across the country.

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