Ethereum (ETHUSD) trails in Bitcoin wake

Yesterday, Ethereum (ETHUSD) did catch a ride higher on the coattails of the further gains seen in Bitcoin. That move higher in the lead cryptocurrency certainly halted the sell off that had impacted Ether. It also helped to lift the price back above the noted resistance in place around 402. However, and despite Bitcoin making further significant progress, Ether has not kept pace with that move. It has only managed to trade to as high as 410.63 so far. In fact, it is falling back a little more right now this morning and for holders of this coin that is surely a disappointment. The simple truth is that Ether is not Bitcoin despite its dual mining capability. There are clearly more punters prepared to hold Bitcoin than there are Ether right now. Perhaps it is a bit like the difference between a Seat and a Volkswagen. Both are made by the same company, with the same technology, but it is the brand that counts. Notwithstanding that observation, Ether is coming under a degree of pressure just now as the price drops back to 402.85 and needs to hold above 400 if short term stops are to be avoided