Ethereum (ETHUSD) under pressure today

The price of Ethereum (ETHUSD) has been trying to make headway in recent days culminating in a move back above 380, to as high as 385 reached yesterday. That move came as Bitcoin lifted above 11,755. However, and despite Bitcoin making further progress today, Ether has been heading in the opposite direction. The reason for that lies partly in what was noted here about Bitcoin earlier today. That is to say; that the lead coin is snapping its relative underperformance against a number of leading counterparts. Most recently that had seen Ether really outperform Bitcoin over the past few weeks, but that has certainly changed today. ETHUSD slumped to around 365 a short while ago even as Bitcoin was making further progress towards 12k. In addition, a number of technically negative headlines on Ether have come across various news channels today too. That coupled with those cross correlation dynamics just mentioned has clearly had an impact on Ether. The price is just now trying to rebound slightly from an earlier session low set at 365.46. ETHUSD is just now trading at 369.80