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In today’s Ethereum price analysis, ETHUSD may continue its range bound move for a few days if it does not encounter a bullish or bearish breakout. What is next?

Ethereum Price Analysis

Ethereum price analysis

ETHUSD Chart

Ethereum (ETH) price was in a sideways trend yesterday June 11 and it is still trading between the levels of $240 and $280. While the bears broke below the lower price range on June 9, the bulls pulled back price into the range bound zone the next day. Ethereum price is trading at $249 above the lower price range. Since the price of Ethereum is ranging, range-bound traders can initiate long trades at the lower price range.

This will enable them to make some profits by the time price ranges to the upper price level. Also, a range trader can initiate a short trade near the resistance, if the price is retracing from the upper price range.

However, the Ethereum price may continue its range bound move for a few days if ETH does not encounter a bullish or bearish breakout. In the meantime, ...

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