Vitalik Buterin Advocates for Simplification of Ethereum’s Architecture
Ethereum co-founder Vitalik Buterin advocates for simplifying Ethereum's architecture in a recent blog post. He proposes moving towards a minimal base protocol over the next five years, similar to Bitcoin's approach.
- Buterin critiques Ethereum's complex features, suggesting they offer limited value.
- He introduces a “3-slot finality” model to streamline consensus by eliminating certain components.
- A call for standardization aims to reduce toolchain complexity and enhance accessibility.
- This simplification follows a structural overhaul at the Ethereum Foundation, with new co-executive directors appointed.
Ethereum (ETH) is trading at $1,828, showing no change within the last day. Analyst Cas Abbe notes that ETH’s monthly RSI has retested a multi-cycle support level, historically leading to significant price increases.
- Past retests resulted in over 340% gains.
- If this trend continues, ETH could surpass $8,000 by Q4 2025.
ETH Price Analysis
The daily ETH price chart indicates a neutral RSI, suggesting no immediate overbought or oversold conditions. Bollinger Bands are tightening, indicating potential breakout opportunities:
- A close above $1,900 may trigger a short-term rally, with resistance expected at $1,950 and $2,100.
- A drop below $1,720 could occur if the middle band is not maintained.
Currently, ETH trades 62% below its all-time high of $4,891. Analysts recommend buying on dips, citing long-term accumulation potential based on on-chain metrics.