Ethereum (ETHUSD) a further rebound depends on Bitcoin

Yesterday Ethereum fell back from above 380, to as low as 365.50 even as Bitcoin rose. Once again this move was all about a cross related play that saw Bitcoin gain at the expense of almost all of its leading counterpart. That placed selling pressure on Ether and really accounted for the move lower. The further rise in Bitcoin today, to above 12,300 earlier on has allowed Ether to stage a recovery. That has taken the price back above 380 again, to as high as382.95 reached a short while ago. Under the present circumstances, and if the current dynamics do not change then it will probably require further gains for Bitcoin to maintain the recent recovery of Ether. So, if Bitcoin reverses it will surely see another deeper decline unfold in Ether. The immediate path for Ether would seem to rest with that dynamic. ETHUSD is just now trading at 380.30