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Ethereum price is still trading between the levels of $240 and $280 and a bullish or bearish breakout seems imminent for the cryptocurrency.

Ethereum price analysis

ETHUSD Chart

Ethereum (ETH) price was in a sideways trend yesterday and is still trading between the $240 and $280 levels. Yesterday, the Ethereum price fell after the bulls met resistance at the $260 level. Today’s, June 14, the price of Ethereum is making another upward move to the upper price range.

As we have earlier suggested, range-bound traders can initiate long trades at the support level and exit near the resistance level. Also, if Ethereum price has tested the upper price range and it is retracing, a range-bound trader can initiate a short trade. The short trades can be terminated near the support level. However, the price of Ethereum may continue its range bound movement in the coming days. A bullish or bearish breakout is imminent for the cryptocurrency. In the meantime, the Moving Averages Convergence Divergenc...

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