The Ethereum price is trading laterally on its daily chart. The coin has moved south by 1.8% in that timeframe. Both the bulls and bears are trying to take over the market as the altcoin remains within a congested price zone. If the altcoin price is rejected at higher levels, the chance of a reversal might increase.
This would mean that bulls represented an upper hand. Moving sideways, however, will bring the asset close to its local support line of $1,220. The current technical outlook…
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