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A system that is position able in a wellbore in a subterranean formation can include a first transceiver that is position able external to a casing string in the wellbore. The first transceiver can wirelessly transmit data via a signal within a frequency band that is selected based on a fluid property of a fluid in the wellbore and a property of the subterranean formation. The system can also include a second transceiver that is position able externally