Ethereum (ETHUSD) still under pressure

Yesterday, the significant rebound in Bitcoin was still not enough to help Ether make a comeback and the price refused to rebound back above 400 again. That in itself has been its undoing over the past 12 hours. The relapse in Bitcoin therefore left Ether with little choice but to fall back further overnight and this morning, the break below 380 that had been highlighted here as having potential, saw the price drop back close to 375 just as the European markets were reopening. Granted it did not make to as low as 365 that has been mentioned here yesterday, but the directional move was correct all the same. Besides it is not out of the woods by any stretch and another drop below 13k on Bitcoin may yet deliver such a move. The rebound from just above 375 to around 384 has run out if steam for the time being it seems as the price now falls back below 380 once again. ETHUSD is just now trading at 378.70