Ethereum nears key Ichimoku breakout, Tom Lee says it would be good to see
Ethereum (ETH) trades near $1,906, about 3.5% below the upper edge of its daily Ichimoku cloud at around $1,970, while Tom Lee says a breakout would be “good to see.”
Fundstrat’s Tom Lee continues to back Ethereum (CRYPTO: ETH), calling a potential cloud breakout “good to see” as ETH trades just 3.5% away from its first bullish trend signal since October 2025.
What Does the ETH Chart Setup Actually Show? Pseudonymous analyst MacroCRG flagged on X that ETH is trading near $1,906, roughly 3.5% below the upper edge of its daily Ichimoku cloud at around $1,970.
A daily close above that level would be the first since October 9, 2025, a widely watched bullish trend signal that has not triggered in over ten months.
Lee replied directly to the post with “would be good to see.” Why Is Lee Bullish on ETH Beyond the Chart? Lee argued in Bitmine’s Monday press release that the ETH/BTC ratio, currently at 0.02994 and rising, has broken above its long-term downtrend for the first time in years.
He attributed the move to markets beginning to price in tokenization and agentic AI applications running on Ethereum.
Lee put the current cycle in historical context, pointing to prior ETH/BTC ratio expansions driven by ICOs in 2017 to 2018, NFTs in 2020 to 2021, and stablecoins in 2025.
He argued the next driver is larger than all three combined: Wall Street tokenizing assets on-chain and AI agents transacting through blockchain rails. “The tailwind for ETH in the next few years is larger than those prior cycles of ICOs and NFTs,” Lee posted on X. “Expect this ratio to make a sizable move higher,” he added.
What Lee Said About AI and the Broader Market In a CNBC interview on Monday, Lee compared the AI infrastructure buildout to the transcontinental railroad, noting the US is spending roughly 2.5% of GDP on AI, similar to what was spent building the railroad between 1850 and 1870.
He pushed back on concerns about off-balance-sheet financing from major tech companies, arguing the commitments reflect future spend that does not flow through balance sheets until construction begins, not hidden risk.
Lee also said productivity gains from AI do not require mass unemployment, pointing to historical transitions where displaced workers found higher-paying jobs in the industries that replaced the old ones.
He added that the bond market’s calm response to the $40 trillion national debt suggests equity markets have room to keep running as long as the 10-year yield stays contained.
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