The Ethereum (ETH) price could slide as low as $1,200, according to a warning from market analyst Joao Wedson in an analysis published on Friday, November 13, 2026.

Wedson, who tracks the positioning of whale-scale investors across crypto exchanges, argues that large traders are stacking downward bets on Ethereum across these trading venues. His work focuses on the activity of high-value market participants, whose orders can be large enough to influence short-term price movements — which is why positioning shifts among these holders tend to attract broad attention from market watchers.

Background on Ethereum

Ethereum is the second-largest cryptocurrency by market capitalization, behind only Bitcoin. ETH is the native token of the Ethereum blockchain, a decentralized network that popularized smart contracts — self-executing code that underpins decentralized applications and a large share of the broader token economy.

In September 2022, Ethereum completed its transition from proof-of-work to proof-of-stake in an upgrade widely known as the Merge. Under the current design, validators stake ETH to help secure the network and process transactions, and a substantial portion of the total ETH supply sits in staking arrangements rather than in immediately tradeable exchange balances. With a sizable share of supply committed to staking, the ETH held on trading venues represents the portion most readily available to trade — one reason positioning on these exchanges draws analyst attention.

Whale-scale positioning is a closely watched metric among market analysts because the transactions of large holders are visible in public blockchain data and exchange order books. Wedson's warning rests on his reading of that positioning, which he interprets as an accumulation of downward-facing bets on the asset. Because those transactions remain publicly observable, the same records underpinning Wedson's analysis offer a way to follow the setup going forward: changes in whale-scale positioning across exchanges — whether downward-facing bets are maintained, added to, or unwound — would be visible in on-chain data and order-book records.

Projections of this kind reflect a single analyst's interpretation of market data, and no outcome is guaranteed. They do not constitute investment advice.

This content was first published on COINOTAG: https://en.coinotag.com/joao-wedson-warns-ethereum-eth-could-drop-to-1200