Ethereum Price Rises Slightly as Vitalik Buterin Backs Tornado Cash Developer Roman Storm

The Ethereum price has surged by a fraction of a percentage to trade at $3,087 as co-founder Vitalik Buterin commented on the importance of privacy in the crypto space and his continued support for Tornado Cash developer Roman Storm.

Buterin has once again spoken out in defense of Storm, who may face a retrial on two felony charges in the United States later this year. In a recent post on X, the Ethereum co-founder warned about the growing risks to financial privacy from both governments and the public.

He revealed that he has personally used Tornado Cash to make private transactions, including buying software and donating to human rights charities, without exposing his identity in corporate databases.

Buterin has also argued that creating privacy-focused software should not be treated as a criminal act. He described Storm as a principled developer who genuinely believes in protecting user privacy, unlike others who use such causes mainly for profit while delivering unreliable products.

According to Buterin, Storm’s work reflects a sincere commitment to digital privacy. Roman Storm was indicted in August 2023 on three charges: running an unlicensed money transmitter business, conspiracy to commit money laundering, and conspiracy to violate US sanctions. In August, a jury found him guilty of the first charge but failed to reach a verdict on the other two, leaving them unresolved.

It is still unclear whether prosecutors will retry him on the remaining charges or when sentencing will take place for the conviction. Storm continues to claim his innocence and has received strong backing from the crypto community, which often repeats the slogan “writing code is not a crime.” Many industry figures believe developers should not be held responsible for how others use their software.

Ethereum Price Stabilizes Above $3,000, Bulls Step In

Ethereum is currently trading around $3,100 after spending several months in a downtrend. During that period, the price was moving inside a bearish channel, meaning it kept making lower highs and lower lows. This showed strong selling pressure, especially between October and November. However, that selling pressure has started to weaken.

The price found strong support around the $2,800–$2,900 zone. Each time ETH dropped to this area, buyers stepped in and pushed the price back up. This shows that many traders see this level as a good buying zone. From this support, ETH has formed a rounded bottom shape, which often signals that the market is slowly turning bullish.

ETHUSD Chart Analysis Source: Tradingview

ETH has also broken out of the bearish channel. This is an important sign because it suggests sellers are losing control and buyers are starting to take over. The price is now trying to stay above the $3,000 psychological level. Holding above this level increases the chances of further upside.

The next resistance is around $3,300–$3,400. If ETH breaks and holds above this zone, the price could move toward the $4,200–$4,400 area, which is marked as the main target on the chart. This would confirm a stronger bullish move.

The RSI indicator is currently around 51–53, which is neutral. This means the market is not overbought or oversold, and there is still room for the price to move higher without heavy selling pressure.