Ethereum (ETHUSD) backs off from new interim high

Following the news from PayPal yesterday, Ethereum (ETHUSD) continued to build on its gains. In fact, for much of the day it outperformed Bitcoin as the price rose above $400 and later above $415. Overnight the price rose to as high as 421.50, but it has backed away from that fresh interim high since then, as it drifted back below 415, to as low as 409.75 in early European trading. Nevertheless, the outlook remains positive and the coin is surely on track to make further progress, back towards the noted previous 2020 high at 489. At the same time, Ether will of course be keeping a close eye on Bitcoin as the fate of both is now even more intertwined that it was before. Perhaps the ironic thing about all the news yesterday; was that PayPal shares were actually one of the worst performing stocks on the Nasdaq 100, with the price closing lower by more than 4%. ETHUSD is just now trading at 414.55