Ethereum seems to be struggling to decide if it wasn't to stay above or below $300 right now. For the past month or so Ethereum was almost a carbon copy of Bitcoins price chart, only scaled down. The past few days this has decoupled a little bit as Bitcoin was climbing by hundreds towards its all time high Ethereum was actually going down slightly. Now that Bitcoin is pulling back a little Ethereum is also going down.
It seems that there is no correlation at all anymore so it may not be a good time to get into Ethereum right now until the bitcoin fork happens. As has been mentioned, interest in Bitcoin is now at a high because of the potential for free BTG coins due to the fork.
I think that there has been a decoupling of pretty much all alts and Bitcoin over the last month or so. It seems to be in a league of its own. Certain alts e.g. NMC and PPC were heavily reliant on trade from within BTC-e. Since that went down the prices struggled, and with the birth of WEX there is still too little activity in that space.
ETH seems to be full of promise, perhaps it will pick up again soon. Still can't believe that BTC hit the highs that it has.