Ethereum's Future Prospects Analyzed Amid Market Dynamics

According to BlockBeats, on-chain data analyst Murphy has released an end-of-year analysis of Ethereum, titled 'Is ETH Still Worth Anticipating in 2026?' The analysis concludes that the current issue with Ethereum is not the upper-level holdings but the dispersed structure below. The $2,700 mark is identified as a key consensus support zone, and if breached, the price could enter a vacuum lacking anchor points. Major whale groups have not abandoned their positions but have become more cautious, with the concentration of holdings rapidly increasing and being systematically consolidated. On-chain activity indicates that around September 18, significant funds were established at approximately $4,500. Despite a price surge on December 6, these holdings were not sold, and as ETH's price declined, these positions began to be liquidated. A large number of trapped positions exist around $3,100, resulting from whale groups that built positions between $2,600 and $2,700 from May to July, with an average cost now at $3,100. Around November 23, substantial funds entered at $2,700-$2,800, forming a dense accumulation zone, with no signs of reduction so far. The current concentration of ETH holdings is most significant between $2,700 and $3,100, with 17.9 million ETH, accounting for 22.6% of the total circulation, followed by 4.43 million ETH at the $3,100 level. The $3,100 holdings are not considered a resistance to a rebound, but $2,700 is seen as effective support. ETH's price fluctuates within this range due to institutional consensus. Whale holdings, defined as wallets with over 100,000 ETH, are considered the 'smartest' leaders of this cycle. During the price drop to $1,500 from February to April, this group was the primary force for accumulation. As ETH rebounded to $3,500, they began to rapidly reduce their holdings, selling during ETH's peak from August to October. During the price correction to $2,700 on November 21, this group increased their holdings again.