A technical analyst on X is warning that Ethereum’s price action is tracing a familiar — and historically painful — pattern, with a daily SuperTrend reversal now flashing bearish and suggesting a potential steep drop. Leshka.eth’s chart work shows the SuperTrend indicator, a volatility-based trend-following tool that plots dynamic support and resistance, has flipped to red on Ethereum’s daily timeframe. According to the analyst, this is the third time this specific setup has appeared in the current cycle — and both prior occurrences ended in large drawdowns. Timeline of the past episodes: - Oct–Nov 2025: ETH briefly held a support zone before breaking down, triggering a collapse measured at roughly 45.03%. That selloff took price from above $4,750 to below $2,750. - Early 2026: A similar pattern emerged after support failed in late January, with ETH falling below $1,850 in the first week of February in a decline comparable in magnitude to the earlier episode. That same transition is now unfolding again, per the analysis. The immediate make-or-break level to watch is around $1,990 — the zone where the current SuperTrend reversal is forming. Leshka.eth’s chart shows resistance attempts toward the $2,300 area being rejected, and cautions that if $1,900 gives way, the next significant target could be near $1,200. Applying the previous drawdown magnitudes (about 45%–48%) to the current structure leads to a projected major downside zone around $1,200. Traders following this analysis will be watching the $1,990–$1,900 area closely: holding it could limit downside risk, breaching it could open a longer drop. As always with technical calls, patterns are probabilistic rather than certain. This setup points to higher downside risk for ETH in the near term, but market catalysts, macro conditions, and on-chain developments can alter outcomes quickly. Read more AI-generated news on: undefined/news

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