Tom Lee of Fundstrat agrees that the lengthy interval of sideways buying and selling in Ethereum ($ETH) is setting the stage for a mega worth rally.
Lee replied “Agree” to a submit by James Easton, co-founder of Alpha Metrics. Easton argued that many traders are promoting $ETH too early and that Ethereum’s almost five-year buying and selling vary is turning into a significant launchpad for future progress.
He believes the five-year field “will reward the affected person and punish the twitchy”. Lee’s assist stands out as a result of he has remained firmly bullish on Ethereum’s long-term potential, whereas Bitmine has continued aggressively accumulating $ETH.
Ethereum Has Rallied 86% From June Low
Notably, Ethereum’s worth has surged 86% from its June low. $ETH is at the moment buying and selling round $2,693, up about 10% this week and 9% this month.
Ethereum has additionally considerably outperformed Bitcoin over the previous three months. Particularly, it has gained about 71%, in contrast with Bitcoin’s 40%.
For context, $ETH fell to $1,506 in June and has since then climbed as excessive as $2,806, marking a rise of about 86%.
The transfer reinforces the case that Ethereum’s prolonged interval of sideways buying and selling is laying the groundwork for a lot bigger worth surges.
Tom Lee Is Backing His Ethereum View With Cash
Tom Lee’s bullish Ethereum outlook can also be mirrored in Bitmine Immersion Applied sciences, the Ethereum-focused firm he chairs.
As of September 21, Bitmine held about 5.98 million $ETH, value round $16 billion. The corporate bought one other 27,562 $ETH in the course of the earlier week. Lee stated Bitmine has purchased $ETH each week since launching its Ethereum Treasury Technique in June 2025.
Bitmine additionally had about 5.07 million $ETH staked, value roughly $13.6 billion at an $ETH worth of $2,688.
Lee says the present crypto market is in a bull market that started in late June. He has pointed to a number of elements driving the pattern, together with capital transferring from AI shares into crypto, the expansion of tokenization and AI, and the top of the normal four-year crypto cycle.
He has additionally highlighted Ethereum’s current outperformance towards main conventional belongings. Lee expects Ethereum’s robust third-quarter efficiency to hold into a good stronger fourth quarter.
He additionally expects establishments which have maintained comparatively small crypto allocations in 2026 to extend their publicity towards the top of the 12 months.
$ETH outperforming $SPY by 6,519bp thus far on 3Q with solely a few week left
– FOMO incoming https://t.co/hvMxeL37iW
— Thomas (Tom) Lee (not drummer) FundstratDirect.com (@fundstrat) September 21, 2026
Lee’s Excessive $ETH Value Targets
Tom Lee has maintained a bullish view on Ethereum for years, together with his worth targets altering alongside market situations.
In 2025, Lee stated $ETH might attain $12,000 if Bitcoin reached $250,000 and Ethereum returned nearer to its historic valuation relative to Bitcoin. He additionally outlined eventualities through which $ETH reached $22,000 or extra if Ethereum considerably strengthened towards Bitcoin.
Lee has repeatedly in contrast Ethereum’s progress trajectory with main know-how and monetary corporations throughout their early levels. He sees Ethereum taking part in a central position in tokenization and the event of the long run monetary system.
For now, $ETH has already surged almost 2X from $1,506 in June to above $2,800 this week. The subsequent part of Ethereum’s cycle now facilities on whether or not $ETH breaks decisively out of its long-term buying and selling vary and begins a considerably bigger enlargement.
