Continuing from the previous text

On December 25, the number of addresses holding at least 1,000 ETH reached 5,634, the highest level since September. Subsequently, on December 26, there was a slight decline to 5,631.

This increase followed the lowest monthly figure of 5,565 recorded on November 28, highlighting that large holder activity is gradually recovering.

Addresses with a balance >= 1,000 ETH. Source: Glassnode

Tracking the behavior of ETH whales is very important as they control a large amount of liquidity, and their holdings and movements often influence the market.

The current stabilization at a high level indicates that large holders maintain confidence in ETH, which may support its price in the short term. However, the slight decline also indicates caution, suggesting that unless there is a decisive change in whale behavior, the price of ETH may remain in a range.

ETH Price Prediction: Consolidation before a new breakthrough?

Ethereum's price is currently trading within a range, with resistance at $3,523 and support at $3,220. Its EMA line shows a downward trend, with the short-term moving average below the long-term moving average.

However, the weakening of this trend suggests that ETH may be entering a consolidation phase rather than continuing to decline.

ETH Price Analysis. Source: TradingView

If ETH's price breaks through the resistance level of $3,523, it may target higher levels of $3,827 or even $3,987.

Conversely, if it tests the support level of $3,220 and fails to hold, the price could further drop to $3,096, marking a potential key level of stability.

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