ETHUSD parallel channel

Looking at the chart on the four-hour time frame, Ethereum found support at $ 1900 by retesting to the previous high at $ 1943. By setting the Fibonacci retracement level, we see the following. By setting the first Fibonacci level, the pullback ended at 61.8% level, making it higher low, which helped us form a certain growing channel. Ethereum reached the top line of the channel based on that channel, making the next pullback but only up to 38.2% on the new Fibonacci setup. If we see the rejection again from the previous maximum, we can expect a bigger pullback, and as the maximum target of this pullback, we have $ 1761. For something like that, we have to wait for the next few days to see how the price will behave around the previous high. A break above the previous high at $ 2145 takes us to new historical highs. Our next psychological target is $ 2200. With the Fibonacci target setting, we have $ 2262, $ 2307, and a maximum target of $ 2524.