ETH Price to $16K? Wall Street Analyst Tom Lee Says Ethereum is Having its Bitcoin 2017 Moment
 
 Highlights
- Fundstrat's head of research Tom Lee says Ethereum price may reach $16,000.
- Lee says ETH is having its Bitcoin 2017 moment as institutional interest surges.
- Ethereum is also forming a falling wedge pattern suggesting a 79% rally may be imminent.
Ethereum (ETH) price might reach $16,000, according to Tom Lee, the head of research at Fundstrat. He believes that Ethereum is currently at the same place that Bitcoin was in 2017 when institutions were starting to dip their toes in the asset.
Tom Lee Predicts $16,000 Target For Ethereum Price
Despite the slower start to August, Wall Street analyst Tom Lee is holding firm on his bullish outlook for Ethereum. In a recent interview with CNBC, Lee said he still sees a path for ETH to hit $16,000. His target is based on the BTC/ETH ratio in 2021, suggesting that if Ethereum follows a similar trajectory, there is still plenty of room for upside. He says,
“The ratio of Ethereum to Bitcoin could go back to 2021 highs, which is about 0.14. That would value Etherem today at around $16,000.”
Lee also says that Ethereum is having its 2017 moment. It was during this year that Wall Street bought the narrative of BTC being digital gold. Now, with friendly US regulations, Wall Street is turning to ETH. This means that the growth that Bitcoin saw in the last eight years, since 2017, might be replicated in Ethereum.
Lee is becoming one of the biggest ETH bulls. He is currently the chair of Bitmine, which is slowly evolving into the “MicroStrategy of Ethereum.” CoinGape reported that Bitmine is one of the corporate firms expanding Ethereum treasuries.
ETH Confirms Wedge Breakout as 79% Rally Looms
Analyst Gert van Lagen also shares in the bullish bias that the Ethereum price is going higher. He identifies a falling wedge that is disguised as rejection at the $4,000 resistance. Because of this wedge, ETH might be making a rebound soon.
From the highest point of the wedge to the lowest point is a 79% fall. What this means is that the price might just mirror the same performance, but this time, the 79% will be in favour of bulls. That means a 79% surge from the resistance at $4,000.

Going by this forecast, it is possible that Ethereum will get to $9,000. Lagen says that there is a 67% chance that this pattern is going to play out this way. That means that getting to $16,000, just as Lee projects, might be in the cards.
These projections indicate that overall sentiment around ETH remains largely bullish. Looking further ahead, though, the long-term forecast for Ethereum appears more balanced, with potential wins for both bulls and bears.
To sum up, the Ethereum price performance this August could simply be part of its usual seasonal pattern. It is not the first time the coin has moved sideways this time of year. But with institutional players gradually stepping in, Tom Lee’s $16,000 target might still be within reach.
Frequently Asked Questions (FAQs)
1. Can Ethereum price reach $16,000?
2. What factors will drive the next ETH rally?
3. What is the most crucial resistance level for Ethereum?
- SBF Team Says “FTX Was Never Bankrupt,” Creditors Receive 120% Repayment
- XRP ETF Coming This November 13 As Canary Capital Submits Updated S-1 By Removing Roadblocks
- Canary XRP ETF Filing Removes SEC Delay Clause, Targets November Launch
- CFTC, SEC Launch ‘New Era of Collaboration’ to Clarify Crypto Rules, End Regulation by Enforcement
- Senate Committee Finalizes Updated Crypto Market Structure Bill Draft, Release Expected In Days
- Cardano Price Risks 20% Crash Amid Death Cross and Falling ADA ETF Odds
- Bitcoin Price Forecast as Trump Cuts Tariffs After US-China Trade Deal
- Analyst Foresees a Parabolic Rally for Pepe Coin Price as Whale Accumulation Intensifies
- Fidelity Amends S-1 for Solana ETF: Is SOL Price Set to Rally?
- Pi Coin Price Targets $0.65 as ISO 20022 Membership Boosts Institutional Confidence
- Ethereum Price Flips BTC in Strategy Shift, Eyes $4500 Level
 
 MEXC
MEXC 
					
					
					  
                                                                                                                                                                     
                                                                                                                                                                     
                                                                                                                                                                    
 
                   
                   
                   
                   
  
                                
  
                         
                     
                   
                   