Ethereum Breaks Down: ETH Ends February 12 at $1,916, Trading 30% Below Key Moving Averages – 2026 02 12
Ethereum closed February 12th at $1,916 on Bybit, marking an 8.4% weekly decline and continuing its relentless multi-week downtrend. Price now trades 29% below the daily 50-period moving average and 34% under the weekly MA ribbon—a structural breakdown not seen since mid-2023. The technical picture is unambiguous: every moving average on every timeframe from 2-hour through weekly is acting as overhead resistance, confirming that this is not a correction within a bull market but a mature, accelerating bear phase.
The momentum indicators paint a picture of exhaustion meeting capitulation. On the 6-hour and 12-hour charts, ADX readings above 42 and 55 respectively signal that the downtrend retains exceptional strength—these are not drifting, low-conviction moves but powerful directional flows dominated by sellers. The daily RSI at 27.75 has entered extreme oversold territory for the first time in months, while the weekly Stochastic RSI sits at absolute zero, flashing the kind of technical exhaustion that historically precedes either violent bounces or final capitulation wicks.
Money flow across all timeframes remains negative, with CMF readings between -0.04 and -0.13, confirming that any intraday rallies are being sold into rather than accumulated. The 2-hour MACD histogram shows a faint positive tick, hinting at momentum deceleration, but this micro-divergence has yet to translate into price structure improvement—the kind of early signal that often precedes dead-cat bounces rather than genuine reversals.
The critical level to watch is the 1,895 session low. A daily close below this floor would likely trigger stops and open the path toward the 1,800–1,750 major support zone, where long-term buyers may finally step in. Conversely, any relief bounce faces immediate resistance at the 2,000 psychological level, then the 2,064 4-hour MA1. Until ETH can reclaim and hold above 2,200 on a daily closing basis with positive CMF confirmation, all rallies should be treated as selling opportunities rather than reversal signals.
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ETH/USDT Perpetual (Bybit)
Technical Analysis for ETH/USDT.P
Advanced Chart for ETH/USDT.P
This chart visually represents the consensus indicator scores across all analyzed timeframes, providing a clear, at-a-glance view of the prevailing market sentiment.
-1 = Bearish 🧸 ,+1=Bullish 🐂 ,+-0.5 weak Bullish/Bearish , 0(0.5-0.5) = Neutral
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