Ethereum rebound stalls above $400 again

Yesterday Ethereum (ETHUSD) certainly snapped its recent downside run as it lifted from a low point just north of 370, to back above above 400. The price reached as high as 408.75 just after the European close. That move higher was certainly dynamic and the movement clearly steep on the chart, but there is little doubt that it took its lead from Bitcoin too. However, so far today despite repeated attempts earlier in the session the price has not managed to make further progress even as Bitcoin makes new 2020 highs. Ether has again slipped back below 400 this morning and that is rather disappointing. Once again it seems that the lack of traction to anywhere meaningful is a sure sign that Bitcoin is still a preferred destination for those seeking to continue to capitalise on the PayPal news. That might change of course, but as stated before, it is also about Brand awareness too and Bitcoin simply has the edge on that as indeed it has always quite honestly. ETHUSD is just now trading at 398.40