Crypto Analyzer

Ethereum Analysis February 20th

**Ethereum Price Analysis and Forecast**

Ethereum has seen a recent surge in its price, breaking through key resistance levels and reaching close to $150 before experiencing a correction. The ETH/USD pair has shown strong movements, with the price dipping below certain support levels and retracement levels.

As of the latest analysis, the price of Ethereum is hovering around the $140 support area. The technical indicators suggest that there are important support levels near $141, $140, and $136. Notably, the main support level is around $138, which coincides with the 76.4% Fibonacci retracement level. Additionally, the 100-hour simple moving average is positioned near $136, acting as a strong support level.

Recent trends indicate that the price may find it difficult to break below the $138 and $136 levels, with the possibility of a new uptrend if support holds strong. However, if the price closes below the 100-hour SMA, there could be a further decline towards the $130 level.

Traders and investors are advised to closely monitor the price movements and key support levels to gauge the market sentiment. The $138 and $136 levels are crucial in determining the short-term direction of Ethereum’s price. It is important to exercise caution and use risk management strategies while trading in such volatile market conditions.

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Overall, while the price of Ethereum has experienced fluctuations, the strong support levels near $138 and $136 provide hope for a potential resurgence in the near future.