The price dropped 20% between Feb 12 (when the network was shut down) and today, so I wouldn't call it "barely". I'm guessing all the current owners don't really care about the fundamentals so something like this isn't going to affect their outlook.

20% is a relatively small move for most crypto currencies. I don't follow iota's price history, but I'd assume this falls well within 2 sigma or something (even assuming returns follow a normal distn which seems suspect for most of these assets).

Since the network is down, can this still be traded?

I know exchanges use 1 big wallet, and internally keep track of who owns what. So in practice you would still be able to trade, just not able to add or request funds.

But if all exchanges block trading, nothing can happen to the price can it?

> Since the network is down, can this still be traded?

Yes. Trading generally happens off-chain, simply by changing account balances in exchange's database. Actual on-chain transactions don't take place until funds are withdrawn from the exchange (which is why they should not be kept there for long - obvious hacking risk).

>Since the network is down, can this still be traded?

All the major exchanges are showing volume, so yes it's still being traded.

>But if all exchanges block trading, nothing can happen to the price can it?

Not really. All that does is remove an "official" price, and make spread/confidence interval bigger. OTC trades (with trusted parties since the network is down) is always an option, so are derivatives like futures/options/cfds.