Ethereum Struggling Below $375, But 100 SMA Can Trigger A Fresh Rally

Ethereum started a steady decline from the $395 swing high against the US Dollar. ETH price is now trading just above the main $360 support and the 100 SMA (H4).ETH price is showing a few bearish signs below $375 and $380 against the US Dollar.
The price is still holding the $365 support and the 100 simple moving average (4-hours).
There is a major declining channel forming with resistance near $372 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair is likely to rally above $375 as