Despite the technical headwinds, the price of Ether continues to hold steady.
Presently, the ether-US dollar (ETH/USD) exchange rate is approximately $305, which is up from its low of $287 in the wake of a recent software upgrade. Although its price may be down from its peak at $350 in the lead-in to the upgrade release, the price stability may be remarkable due to the supposed “rocky” state of the code.
Vitalik Buterin, Ethereum’s founder, told markets that one or two months of testing is required before the blockchain can be stated fully secure. There have yet to be any comments from its developing team.
Nevertheless, the blockchain continues to run without any issues and the concerns of the “security bug” in the new code show to be declining.
Week-on-week Ether is down about 8.9 percent but on a monthly basis, it is still up 7.8 percent.
Will Ether capitalize further on the sharp recovery from $287?
The price analysis indicates the chances of a “bull run” in the short-term is low.