Ethereum Gaining as SEC Lurks on Horizon

Ethereum has gained in the short term, even as the Security Exchange Commission has let it be known it is examining the possibility of labeling Ether as a token.

Ether Producing Solid Short Term Gains

Ethereum has made gains in the past twenty-four hours and is near 720.00 U.S Dollars per coin early this morning. Resistance to Ether appears to be about the 860.00 level, while support can be interpreted around 600.00 Dollars.

Ethereum has not been able to challenge its higher February price range, but speculators have certainly produced a solid upwards trend since the beginning of April.

Will Ether be labeled a Token by SEC?

Speculators should keep their eyes on the Security Exchange Commission in the U.S to issue a ruling – of which there is no exact timetable – regarding the status of Ether as a cryptocurrency or token.

It Ether gets labeled as a token by the SEC it will increase its regulatory scrutiny, and would certainly create an impact on its value.

In the short term, we believe Ethereum could be positive. The mid-term and Long term we are unbiased.

Yaron Mazor is a senior analyst at SuperTraderTV.

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