Ethereum’s newest value construction is starting to appear 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 at all times led to heavy drawdowns for ETH. The construction will not be new, however the way in which 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 instrument that plots dynamic assist and resistance ranges primarily based 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 led to 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 positive factors from earlier within the 12 months. Notably, this selloff noticed the ETH value fall from above $4,750 till it fell under $2,750.
The second setup happened in early 2026. Once more, the ETH value appeared to search out footing at a assist degree in early January, however that assist finally gave approach in the course of the second half of the month. This finally led to a decline that regarded 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 happening once more. The SuperTrend has turned pink, and this locations Ethereum in a situation that has at all times favored continuation to the draw back.
The Line In The Sand
The outlook from this evaluation locations the necessary degree 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 assist across the $1,990 value degree as the road within the sand that should not be damaged.Â
Worth has already tried to push increased 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.Â
The chart annotations level to drops of roughly 45% to 48% after related setups, and making use of that vary to the present construction initiatives Ethereum’s subsequent main zone round $1,200.
Featured picture from iStock, chart from Tradingview.com
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