#ETH/USDT ANALYSIS

ETH is currently experiencing a consolidation phase within a descending channel. The price is trading below the resistance trendline of this channel, indicating that the downward pressure is still in play. A significant resistance level is also being reinforced by the 100MA, which is adding to the selling pressure and making it difficult for ETH to break higher.

A successful breakout above the descending channel's resistance trendline, accompanied by a clear move above the 100MA, would suggest a potential reversal and an upward trend. Such a breakout would need to be confirmed by strong trading volume and sustained price action above these resistance levels.

On the other hand, if $ETH ETH fails to break above these resistance levels and instead breaks down below the lower trendline of the descending channel, it would signal a continuation of the bearish trend. This breakdown would likely lead to further downside.