On April 21, the U.S. Dollar Index (DXY) broke below the 98 mark, hitting a three-year low and fueling a surge in risk and hedge assets. Gold soared to a record high, while Bitcoin followed suit, climbing past $88,000 and signaling renewed bullish momentum. Meanwhile, Ether continues to lag, stuck in a downtrend—though bulls are attempting a turnaround by reclaiming the 20-day EMA at $1,659. Adding intrigue to Ethereum’s roadmap, co-founder Vitalik Buterin introduced a bold proposal: replacing the Ethereum Virtual Machine (EVM) with the open-source RISC-V architecture. If adopted, this shift could significantly boost the efficiency and scalability of Ethereum’s smart contract execution, marking a major evolution in the network’s core infrastructure.
At the time of writing, ETH was trading at $1,577.
ETH continues to trade in a ‘Descending Channel’ and has corrected by almost 65% over the past four months. The bulls, however, defended the key support level of $1,350, and the price has bounced by almost 22% up to $1,691. The asset has strong resistance at $1,750. Once it breaks and sustains above this level, we can expect it to further rally up to $2,100.
Key Levels
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $1,350 | $1,500 | ETH | $1,750 | $2,150 |
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