Ethereum Bull Tom Lee supports 3,000% ETH upside
Fundstrat co-founder Tom Lee shared a “generational play” thesis that predicted a 3,000% increase in Ether (ETH) value to $60,000.
Main Receptors:
ETH is testing a key long-term support trend line that preceded the recent 5,000% gain. Tom Lee has developed a fractal setup that will send ETH to $60,000 by 2030.
ETH Price Chart: Huge ascending channel targets $60,000
On Wednesday, Lee retweeted a bullish view shared by crypto analyst Patel, predicting that the ETH price will reach $60,000 in the coming years.
The setup revealed a long-term bullish channel that has shaped ETH's price action since 2017, with the upper and lower trend lines acting as resistance and support over multiple market cycles.
ETH/USD two week chart. Trading View/CryptoPatel
In the year In 2020, for example, ETH rebounded from the lower trendline of the channel before backing up to the upper boundary at approximately 5,200%, where the cycle finally turned higher.
Again, until the end of April, the price of ETH stabilized around the lower trend line, covering the “storage zone” at $1,300–2,000.
Patel highlighted the multi-year rate recovery in the process, calling it a “generational play” for “patients”. His chart predicted a 1,000% rise in ETH to $15,800 in 2028 and a 3,150% rise in ETH to $60,000 in 2030.
Related: These 3 Ethereum Indicators Support ETH's Price Rally Toward $6K
Lee reposted after BitMine, the Ethereum treasury firm he runs, bought $235 million worth of Ether, lifting his net Ether holdings to over 5 million ETH, or about 4 percent of Ethereum's current supply.
BitMine Ethereum holdings chart. Source: CoinGecko
The pace of purchases underscores BitMine's aggressive ETH hoarding strategy, though the company remains exposed to favorable market swings. As of the end of April, the unexpected losses on the investment stood at around $6.5 billion.
Ethereum bears have other plans
Starting in 2021, Ether will trade in a giant symmetrical triangle, a neutral pattern that can be broken in either direction. It briefly moved above the structure in July 2025, but the gap failed, sending the price back into the range.
ETH/USD Weekly Chart. Source: TradingView
A critical break below the lower trendline, now at the 0.786 Fibonacci retracement near $1,834, will weaken the bullish case.
A loss of this support, combined with the lower targets suggested by several bearish analysts earlier this year, could open the door to a deeper decline towards the 1.0 Fib line.
In this scenario, BitMine could see its unproven losses grow to about $13.2 billion based on the estimated average cost of acquiring ETH in its holdings as of April of $3,600.
Still, long-term Ethereum forecasters remain optimistic, with VanEek and Standard Chartered projecting targets of up to $22,000 and $40,000, respectively, in their more pessimistic scenarios.
