Ethereum on a support at $ 127, these are the possible scenarios for the weekend.

Ethereum, the second most important cryptocurrency in the market by volume of trade at the moment is in a situation similar to that of Bitcoin, after breaking all old trend lines in its path it has managed to stop the fall on the S4 of the week of pivot points, around $ 90.

This last level is an extremely important support and it can be seen on the chart how the price corrected rapidly upwards after touching this point. Like Bitcoin, if we mark an inverted fibonacci it can be seen that we are touching 23% Fibonacci, the break of it could be considered only the first step to start a recovery in the price and end the long price fall that we have had .

Subsequently we have an S2 next to the trend line and 38% FIbonacci level, a crucial area in the price and of very strong resistance, here the buyers should activate their forces against the bears to consolidate above these levels. Unfortunately, market sentiment is totally negative and movements of this magnitude can be almost impossible to achieve in a short period of time.

Let's see if Ethereum manages to consolidate above the current support above $ 123 and begins to recover lost ground that so far is more than 50% since last March 6.