If Ethereum can keep the price action at this level I think we might be looking at a rise in ETH against BTC soon.
I am getting myself ready to open a long if the market action confirms. At the moment I am neutral.
Taking a look at Ethereum against the dollar and we can see that the chart is very similar to that of Bitcoin at the moment.
I expect that the $200 range will get tested again and we should get a indication of market direction soon.