Ethereum has not stayed long at the local minimums it had reached either.
- The support zone at about $280 has confirmed its significance again, as the price has quickly regained those levels. If it drops below $280 again and remains there long enough, it will mean that a return to the maximum levels is not to be expected anytime soon.
- The following resistance level is around $340, and it matters for the whole market that the altcoins leader shows confidence in the future. In case there’s no negative news, this scenario is most likely to take place.
- We see a growing number of successful ICOs on the Ethereum platform. For example, ICON, a Korean-based project, raised 150,000 ETH in less than six hours.