Red lines- bearish channel
Green lines- trading range
Ethereum continues to trade sideways inside the trading range. Price is at $1,298 while earlier today it tested the lower range boundary. Bulls continue to defend successfully the lower end of the trading range. As long as this is the case, bulls have hopes for a move towards the upper range boundary. We are now more than a month inside the trading range. We do not expect price to remain inside this trading range for much longer. It is very tiring for traders, but they have to remain patient.
