Ethereum (ETHUSD) setting up for another move

The price of Ethereum (ETHUSD) is making some more progress now. Earlier today the price backed away from an overnight high at 421.26, falling back to as low as 409.68. As noted here earlier; that move lower was surely more about profit taking than it was about any attempt to change the immediate direction. Besides, the price has rebounded again and since the last update here it is making some more headway. It has just lifted above 418 and looks poised to make another attempt at rising above the previous overnight high at 421.26. That is not a certain outcome of course but so long as Bitcoin remains elevated then the chances look good. Beyond any immediate move, the overall direction remains for Ether to continue to try and make further progress towards the previous 2020 high which was reached on September 2 at 489.08. ETHUSD is just now trading at 418.20