Ethereum's recent price weakness might not tell the whole story. Behind the current market sentiment, there's a compelling argument that ETH could be significantly undervalued as we head toward 2026. The divergence between ETH's on-chain fundamentals and its market performance suggests that savvy traders and analysts are starting to spot what could be a major setup in the making. This disconnect—where traditional metrics suggest deeper value than what the price reflects—often precedes substantial moves. Whether it's accumulation patterns, network activity, or macro positioning, the pieces seem to be aligning for those watching closely.