Ethereum’s newest worth construction is starting to seem like a sample that has beforehand led to steep declines, and one analyst believes the sign is already in play.
A technical breakdown shared by Leshka.eth on X factors to a SuperTrend reversal on the each day timeframe, which is a setup that has all the time led to heavy drawdowns for ETH. The construction isn’t new, however the way in which it’s forming once more has raised concern. If all goes in line with the laid out construction, then the ETH worth might crash to as little as $1,200.
The SuperTrend Indicator Has Flipped Once more
The SuperTrend indicator is a trend-following instrument that plots dynamic help and resistance ranges based mostly on worth volatility. This indicator has reversed bearish on Ethereum’s each day timeframe. In response to chart evaluation by Leshka.eth, that is the third time this setup has appeared within the present cycle, and the earlier two cases resulted in steep losses.
The primary occasion, which shaped across the October and November 2025 interval, noticed Ethereum initially maintain a help zone earlier than breaking down. The collapse that adopted measured roughly 45.03%, a selloff that worn out a good portion of the positive aspects from earlier within the yr. Notably, this selloff noticed the ETH worth fall from above $4,750 till it fell under $2,750.
The second setup took place in early 2026. Once more, the ETH worth appeared to search out footing at a help stage in early January, however that help ultimately gave approach through the second half of the month. This ultimately led to a decline that appeared like the primary episode in magnitude, with the ETH worth falling under $1,850 within the first week of February 2026.
That very same transition is now going down once more. The SuperTrend has turned pink, and this locations Ethereum in a situation that has all the time favored continuation to the draw back.
The Line In The Sand
The outlook from this evaluation locations the vital stage to look at at $1,990. That is the place the present SuperTrend reversal is forming, and it’s the make-or-break zone for the near-term ETH outlook. The chart reveals a dashed horizontal line as help across the $1,990 worth stage as the road within the sand that should not be damaged.
Value has already tried to push greater into resistance round $2,300, as seen within the chart above however these strikes have been rejected. In response to Leshka.eth, if $1,900 breaks, then the subsequent goal is the $1,200 zone.
The chart annotations level to drops of roughly 45% to 48% after related setups, and making use of that vary to the present construction tasks Ethereum’s subsequent main zone round $1,200.
Featured picture from iStock, chart from Tradingview.com
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