ETH Market Analysis on February 12, 2026.02 On January 14th, it was clearly bearish, and subsequently ETH fell 48%+ As shown in Figure 1, the tweet on February 6th clearly stated that the decline had come to an end, and at least one oversold rebound would follow, followed by a 23% rebound in ETH+ Has the rebound ended now? Will ETH rise or fall in the future? As shown in Figure 2, I believe that the black line, which is 1748-2152, is only the first upward trend. Currently, we are running a correction against the first upward trend rather than a new downward trend. At least there is no sign of a downward trend at present. The correction of ETH has entered its end, and there are two possibilities in the future: red and blue Red: ETH is no longer effectively falling below the 1900 line in the near future, but is running a convergence pattern to complete the adjustment. This may end the adjustment and start to rise before next week. Blue: ETH falls another low below 1900 and gains support in the blue range shown in the chart, ending the adjustment and beginning to rise. The two paths lead to the same destination, both of which are to find the adjustment endpoint and start the next wave of upward movement, with the only difference being the magnitude of the correction and the end time. A friend asked, 'Will it definitely not fall below 1748?' I cannot answer this question because trading is a game of probability, and my analysis is only a subjective judgment based on the market. Before the downward trend is formed, I believe that the rebound that started at 1748 has not yet ended, and I formulate trading strategies based on this viewpoint. That's all.