Ethereum has entered a somewhat dangerous scenario at the moment since it has not been able to consolidate above 23% fibonacci and 200-period EMA, now it returns to yesterday's levels above $ 155.42 and the possibilities of seeing a break open support at $ 154.
In a positive scenario, we could have an upward movement when bouncing above $ 154, which is currently the most important support in ethereum, from there we should expect a consolidation above 23% fibonacci to consider an entry for the short term. Currently, as the situation is, it is a bit risky to enter.
Now, if the price fails to bounce off $ 154 and loses them, we would enter a deeper correction scenario up to 38% fibonacci at $ 147.5 or even to the pivot of the week at $ 138.5. This represents 100% of the momentum that started on April 05 and that took Ethereum from $ 141 to $ 180 in just one day.