Vitalik Buterin warns crypto needs real-world use as Ethereum trades near $2,023 with RSI at 34 and $2,000 support in focus.
Ethereum traded near $2,023 as Vitalik Buterin warned that crypto needs real-world use beyond gambling, memecoins, and leverage.
His comments came as Ethereum’s daily chart showed weak momentum. RSI stayed near 34, MACD remained bearish, and traders watched the key $2,000 support zone for direction.
Vitalik Buterin Warns On Crypto Speculation
Ethereum co-founder Vitalik Buterin warned that crypto could fail quickly if its main use remains gambling.
His comments pointed to a market where many traders still favor high-risk tokens and leveraged products.
Buterin said crypto needs real-world use to remain relevant over time.
The warning came as memecoins, tokenized perps, and speculative trading products continued to attract market demand.
THE FOUNDER OF ETHEREUM IS WARNING. THE MARKET IS SPRINTING THE OTHER WAY.
🇺🇸 Vitalik Buterin warns crypto dies fast if it stays about gambling with no real-world use.
He’s not predicting it. He’s describing what already happened.
Pumpfun. Memecoins. SpaceX perps on tokens… pic.twitter.com/JQ2EnjGJEm
— Merlijn The Trader (@MerlijnTrader) May 30, 2026
The debate reflects a clear split between builders and traders. Builders often focus on payments, identity, finance, and infrastructure, while traders often follow liquidity and volatility.
Market activity has continued to show demand for risk assets. Pumpfun, memecoins, and synthetic exposure products have remained part of the wider crypto cycle.
Ethereum Price Holds Near Key Support
Ethereum was trading near $2,023 on the daily chart. The price had rejected from the mid-$2,000 area and moved back toward support.
The $2,000 to $2,100 range is now an important area for traders. This zone has acted as both support and resistance during earlier market phases.
If Ethereum holds this area, price may attempt a relief move. The first resistance area sits near $2,300 to $2,400.
A stronger recovery would need a daily close above $2,600. Until that level is reclaimed, Ethereum’s wider market structure remains under pressure.
The chart also shows Ethereum below several Fibonacci fan levels. This suggests that the earlier bullish structure has weakened.
The next resistance levels are near $2,800 and $3,000. A reclaim of that range would show stronger buyer control.
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RSI And MACD Show Weak Momentum
Ethereum’s RSI was near 34 on the daily chart. This shows weak buying strength, though it is not at an extreme oversold level.
A move above 50 on the RSI would suggest improving momentum. Until then, rebounds may remain limited and short-term in nature.
The MACD also showed bearish conditions. The MACD line remained below the signal line, while the histogram stayed negative.
This setup shows that sellers still control short-term price action. However, selling pressure could slow if Ethereum holds above $2,000.
A daily close below $1,900 would raise downside risk. In that case, traders may watch the $1,600 to $1,750 range.
Ethereum remains in a cautious technical position while below $2,600. The market is now watching both price action and the wider debate over crypto utility.
Buterin’s warning adds context to current trading behavior. Speculative demand remains active, but Ethereum’s chart shows that buyers have not regained control.