Ethereum experienced a significant drop today, falling below the $1,600 mark after briefly surpassing this level earlier in the day. This price movement closely mirrored Bitcoin’s recent surge, with Ethereum initially breaking through resistance levels at $1,600 and $1,620 before facing selling pressure that halted its advance. 7-day trading data shows ETH down by 3.10%. Despite this decline, Ethereum co-founder Vitalik Buterin recently proposed replacing the Ethereum Virtual Machine with RISC-V to enhance performance and scalability. He argues that RISC-V’s existing use in zero-knowledge EVMs could significantly boost efficiency, potentially achieving a 50 times improvement. This proposal came alongside Ethereum facing multi-year lows in network activity and transaction fees. Will Ethereum continue to decline? Despite this recent pullback, ETH shows signs of higher lows, indicating continued buyer activity. Analysts suggest that if Ethereum holds its $1.6K level, it could reach $2,000 in April. However, some experts, including veteran commodity trader Peter L. Brandt, are predicting a possible plunge to as low as $800, similar to its 2022 lows. This prediction highlights the potential for both bullish and bearish trends.