Ethereum’s newest value construction is starting to appear to be 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 every 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 value may crash to as little as $1,200.
The SuperTrend Indicator Has Flipped Once more
The SuperTrend indicator is a trend-following device that plots dynamic assist and resistance ranges primarily based on value volatility. This indicator has reversed bearish on Ethereum’s every day timeframe. In keeping with chart evaluation by Leshka.eth, that is the third time this setup has appeared within the present cycle, and the earlier two cases led to steep losses.
The primary occasion, which fashioned 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 12 months. Notably, this selloff noticed the ETH value fall from above $4,750 till it fell beneath $2,750.
The second setup took place 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 throughout 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 beneath $1,850 within the first week of February 2026.
That very same transition is now happening once more. The SuperTrend has turned purple, 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 necessary 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 exhibits 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 keeping with Leshka.eth, if $1,900 breaks, then the following goal is the $1,200 zone.
The chart annotations level to drops of roughly 45% to 48% after comparable 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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