Ethereum ETH/USD is expected to undergo a minor correction to the $4,075-$4,150 range by midweek before resuming its upward trajectory, according to Fundstrat co-founder Tom Lee.
Technical Correction Expected
Lee shared Mark Newton‘s technical analysis, indicating Ethereum’s recent consolidation has “a bit more” to unfold over the next 1-2 days. Newton expects the pullback to provide “very good risk/reward at $4,075-$4,150 into mid-week.”
The correction follows Elliott Wave patterns and “shouldn’t be a big deal at all,” according to Newton’s assessment shared with Fundstrat.
Target Price Near $5,100
After the anticipated dip, Ethereum is projected to rise to near $5,100, representing minor new highs. The technical analyst expects this move to materialize following the mid-week consolidation period.
Currently, Ethereum trades at $4,225.23, up 1.19% in the past 24 hours and 1.89% over seven days, according to CoinMarketCap data. The cryptocurrency maintains a market capitalization of $510.28 billion with 13.2% market dominance.
Lee’s Massive Ethereum Bet
Lee’s bullish stance on Ethereum extends beyond technical analysis. His company, Bitmine Immersion Technologies Inc. BMNR, has accumulated 1.174 million ETH worth $5.26 billion, making it the third-largest public crypto treasury globally.
The acquisition, completed in just 35 days at an average price of $3,492 per coin, represents a strategic pivot from Bitcoin mining to Ethereum accumulation. BMNR stock has surged over 683% year-to-date.
Lee previously called Ethereum “the biggest macro trade” for the next 10-15 years, citing institutional adoption and blockchain infrastructure development. Fundstrat projects potential year-end targets of $12,000-$15,000 for Ethereum, with $10,000 as a conservative estimate.
Bitcoin BTC/USD currently trades at $114,941.43 and should not undercut $111,900 before rising to the $130,000-$140,000 range, according to Newton’s analysis.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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