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ETH/USDT latest action shows the pair trapped in a falling channel on the 1-hour timeframe, with the bearish bias still firmly intact. The setup is textbook: consecutive lower highs stacked on top of lower lows, signaling sellers have the upper hand right now.
What's notable—ETH just got rejected hard at the channel's upper boundary. That rejection kick off another bearish impulse, reinforcing why shorts remain positioned. The moving average sits above price, adding another layer of downside confirmation to this technical picture.