ETH successfully rebounded on Saturday along the yellow line within the 4-hour channel, indicating that trend momentum has re-entered a bullish-dominated context. However, since the price failed to effectively break through the average resistance level (orange line), it is highly likely that the structure will move in a fluctuating upward manner;

I have marked an ascending channel on the chart, and continuously breaking new highs along this channel next week would be a nice scenario!

As for the possibility of a deep correction?

Personally, I believe that as long as the ETH price does not fall below this yellow line (the upper edge of the fluctuating channel), there is no possibility of a deep correction or a breakout.