I have 2 alternative but similar scenarios for ETH:
1) We already hit the top of the channel and turn back to 1110 levels (which seems to be happening as I write it - so I keep the directions for that scenario only).
2) It has some room above it to go up a little more to 1244 levels and then bounce back down.
Either way, I think ETH is still on a bearish channel and has some way to go. This correction has not ended.