Ethereum’s latest price structure is starting to look like a pattern that has previously led to sharp declines, and one analyst believes the signal is already in play.
A technical breakdown shared by Leshka.eth on X points to a SuperTrend reversal on the daily time frame, which is a setup that has always led to sharp declines for ETH. The structure is not new, but the way it is being re-formed has raised concerns. If everything goes according to the established structure, then the price of ETH could collapse up to only $1,200.
The SuperTrend indicator has changed again
He The SuperTrend indicator is a Trend following tool that plots dynamic support and resistance levels based on price volatility. This indicator has turned bearish on the Ethereum daily time frame. According graph analysis by Leshka.eth, this is the third time this setup has appeared in the current cycle, with the previous two instances ending in heavy losses.
In the first instance, which formed around the period of October and November 2025, Ethereum initially held a support zone before breaking out. The collapse that followed measured approximately 45.03%, a sell-off that wiped out a significant portion of the gains from the beginning of the year. Notably, this sell-off caused the price of ETH to drop from over $4,750 to drop below $2,750.
The second setup occurred in early 2026. Again, ETH price appeared to find a support level in early January, but that support eventually gave way during the second half of the month. This eventually led to a crash that looked like the first episode in magnitude, with the price of ETH falling below $1,850 in the first week of February 2026.
That’s the same the transition is now taking place again. The SuperTrend has turned red, and this puts Ethereum in a condition that has always favored continuation lower.
The line in the sand
The outlook for this analysis places the important level to watch at $1,990. This is where the current SuperTrend reversal is forming, and it is the decisive zone for ETH’s near-term prospects. The chart shows a dashed horizontal line as support around the $1,990 price level as a line in the sand. that should not be broken.
The price has already attempted to rally towards a resistance around $2,300, as seen in the chart above, but those movements have been rejected. According to Leshka.eth, if $1,900 is broken, then the next target is the $1,200 area.
Chart notations point to declines of approximately 45% to 48% following similar setups, and applying that range to the current structure projects Ethereum’s next major zone around $1,200.
Featured image from iStock, chart from Tradingview.com
Editorial process for bitcoinist focuses on providing thoroughly researched, accurate and unbiased content. We maintain strict sourcing standards and every page undergoes diligent review by our team of technology experts and experienced editors. This process ensures the integrity, relevance and value of our content to our readers.
