Fundstrat co-founder Tom Lee shared a “generational play” thesis for Ethereum, which predicts a 3,000% enhance in the price of Ether (ETH) to $60,000.
Key takeaways:
- ETH is testing a key long-term support trend line that has preceded 5,000% gains in the past.
- Tom Lee has strengthened the fractal setup that predicts ETH will reach $60,000 by 2030.
ETH Price Chart: Giant Rising Channel Hits $60,000 Target
On Wednesday, Lee again offered a bullish outlook common by Crypto analyst Patel, who predicted that the price of ETH will reach $60,000 in the coming years.
The setup showed a long-term ascending channel that has marked ETH’s price action since 2017, with its upper and lower trend lines repeatedly acting as resistance and support throughout multiple market cycles.
ETH/USD biweekly chart. TradingView/CryptoPatel
For example, in 2020, ETH bounced off the channel’s lower trendline before rising approximately 5,200% towards the upper trendline, where the cycle finally peaked.
Again, in delayed April, the ETH price stabilized around the lower trend line, the “accumulation zone” of $1,300-$2,000.
Patel highlighted the potential for a multi-year price rebound, calling it a “generational play” for “patient owners.” His chart projected ETH to grow 1,000% to approximately $15,800 by 2028 and 3,150% to $60,000 by 2030.
Related: These 3 Ethereum indicators support the enhance in the ETH price to 6,000. dollars
Lee republished Patel’s confident forecast after BitMine, the Ethereum treasury company he chairs, purchased $235 million worth of Ether, raising its net Ether reserves above ETH 5 million, or about 4% of Ethereum’s current supply.
BitMine’s Ethereum Resource Chart. Source: CoinGecko
The buying spree highlights BitMine’s aggressive ETH accumulation strategy, even as the company remains exposed to acute market swings. At the end of April, unrealized investment losses totaled approximately $6.5 billion.
Ethereum bears will have other plans
As of 2021, Ether is trading inside a giant symmetrical triangle, a neutral pattern that can be broken in any direction. In July 2025, it briefly moved above the structure, but the breakout failed, causing the price to return to the range.
ETH/USD weekly chart. Source: TradingView
A decisive break below the lower trend line, currently near the 0.786 Fibonacci retracement level near $1,834, would dampen the upside prospects.
The loss of this support could open the door to a deeper decline towards the 1.0 Fib line around $1,000, coinciding with downside targets set by several bearish analysts earlier this year.
In this case, BitMine’s unrealized loss could rise to approximately $13.2 billion, based on the estimated average acquisition cost of approximately $3,600 of ETH in its holdings through April.
Still, Ethereum’s long-term outlook remains confident VanEck AND Standard charter they project growth targets of up to $22,000 and $40,000, respectively, in more confident scenarios.
