Ethereum’s newest value 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 is just not new, however the best way it’s forming once more has raised concern. If all goes based on the laid out construction, then the ETH value may crash to as little as $1,200.
The SuperTrend Indicator Has Flipped Once more
The SuperTrend indicator is a trend-following software that plots dynamic assist and resistance ranges based mostly on value volatility. This indicator has reversed bearish on Ethereum’s each day timeframe. In line with chart evaluation by Leshka.eth, that is the third time this setup has appeared within the present cycle, and the earlier two situations resulted in steep losses.
The primary occasion, which shaped across the October and November 2025 interval, noticed Ethereum initially maintain a assist zone earlier than breaking down. The collapse that adopted measured roughly 45.03%, a selloff that worn out a good portion of the good points from earlier within the yr. Notably, this selloff noticed the ETH value fall from above $4,750 till it fell under $2,750.
The second setup took place in early 2026. Once more, the ETH value appeared to seek out footing at a assist degree in early January, however that assist ultimately gave means throughout the second half of the month. This ultimately led to a decline that seemed like the primary episode in magnitude, with the ETH value 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 degree to observe 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 assist across the $1,990 value degree 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 line with 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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