If ETH goes to target another high, it can move up to this folds, this current value only showed that supporters are still up for grab, maybe some are shorting but there's also long term holders that will build a strong supports to make sure that the value will be on its uptrend movements while btc
is on its way again to another bull.
What amazes me is that even with all the dapp users and developers moving away to tron and eos for example, ETH still maintains this kind of strength and price. I think people do realize, it's no use to have 1000 dapps on EOS or Tron if all of them are gambling and games with no real sustainability. Cryptokitties taught us that.
ETH is still the enterprise blockchain I guess and that's what is saving it.