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.