Ether Gaining Strength, Back Above $300.

Ether Gaining Strength

The ether-US dollar (ETH/USD) market may seem to be regaining some its past strength.

Ether has been stagnant above $300 amid low trading volumes. ETH seems to be trading in a horizontal fashion around $304. The cryptocurrency is up 4.12 percent week-on-week but on a monthly basis, there has been a 2 percent loss in total.

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With China and South Korea’s specific crackdowns on ICO funding, the market has seen more noteworthy fluctuations in current weeks. On September 15th, prices dropped to a low of $198 but recovered slightly in the days that followed.

Ether’s price trails behind that of bitcoin, which is only 4.8 percent short of the market’s record high. In early September, the cryptocurrency hit a record high of $400 and now ether is down 30 percent from that peak.

There is widespread fear around additional ICO restrictions and it is speculated that its keeping the ether “bulls” at a distance. The theory seems to be clear from the low volumes seen in ETH trading pairs.

However, there is still hope as the price action analysis still points to a bullish continuation pattern.

Featured Image: twitter

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