Ethereum (ETH) Price Is Back in the Spotlight as Vitalik Buterin Hints at a Major Upgrade Proposal

This Layer-Zero development may reshape the Ethereum price narrative by directly addressing Layer-1 costs and congestion.

Ethereum price is back in the spotlight as renewed technical strength and a major upgrade proposal from Vitalik Buterin spark investor interest. After weeks of volatility, ETH is now stabilizing above the $3,200 mark, setting the stage for a possible breakout amid strengthening bullish sentiment.

After Chainalysis founder, Michael Sells, criticized the high gas fees and scalability issues plaguing Ethereum, Buterin took the opportunity to propose a more direct solution: Sharding without the Beacon Chain.

This Layer-Zero development may shift the Ethereum price narrative by tackling Layer-1 costs and congestion head-on.

ETH Technical Analysis

After dropping to lows of $1,800, Ethereum price has since rebounded and trades at $3,250 on April 28. Volume is increasing and chart indicators suggest further upside potential.

Social Sentiment and On-Chain Data Fuel Bullish Momentum

Market optimism is growing, evident in social sentiment. Analyst Crypto Rover cautions against selling ETH, describing it as “a crime” on April 28. The statement comes as Ethereum trading volume soars.

This coincides with a surge in activity from AI-powered trading bots, which contributed to 20% of ETH volume on major exchanges between April 25 and 28. Such algorithmic activity is known to increase volatility and decrease spreads, favoring breakout strategies in the short to mid term.

As a result of Ethereum’s momentum, linked tokens like Fetch.AI (FET) and AGIX are trading at $0.62 and $0.48 respectively.

Ethereum (ETH/USD) Price Analysis

While Ethereum price is approaching overbought territory (RSI at 68), the broader market structure remains bullish. A recent MACD bullish crossover supports continuation if ETH can break above the $3,280 resistance.

Looking ahead, Ethereum price has medium- to long-term upside potential, especially if Buterin’s Layer-Zero framework is implemented. With strong fundamentals, surging volume, and growing developer focus, Ethereum is once again asserting itself in both the DeFi and AI blockchain ecosystems.