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.