May 29, 2025

Ethereum crashes back below $1,600 — will it hit $800?

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Ethereum slipped back below the $1,600 mark today after briefly peaking at $1,653 earlier in the day. The price movement mirrored Bitcoin’s recent rally , with Ethereum ( ETH ) initially breaking through key resistance at $1,600 and $1,620 before facing selling pressure that halted its climb. Now trading around $1,575, ETH is down 3.10% over the past 7 days, according to crypto.news data. Ethereum co-founder Vitalik Buterin recently proposed replacing the Ethereum Virtual Machine with RISC-V to improve performance and scalability . He argued that RISC-V, already used in zero-knowledge EVMs, could boost proving efficiency by over 50 times. The proposal maintained backward compatibility while shifting the backend computation process to RISC-V. It came as Ethereum faced multi-year lows in network activity and transaction fees. You might also like: DOW Jones down 1000 points amid uncertainty over tariffs, Fed’s future Will Ethereum go lower? Despite the recent pullback, ETH shows higher lows, suggesting buyers are still active. Analysts note a break from its downtrend for the first time since February 2025. If Ethereum can hold the $1.6K level, it could rise to $2K in April. Some more pessimistic analysts, such as veteran commodity trader Peter L. Brandt, forecast that Ethereum could plunge to a low of $800, similar to its 2022 low. You might also like: 72 crypto ETFs are awaiting SEC approval, from altcoins to memecoins Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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