BitMine chairman Tom Lee made a bold Ethereum price prediction of $63,000. He said the prediction centers on the idea of the Ethereum network seizing a fraction of the $300 trillion global financial market through tokenization.
Meanwhile, ETH price held steady above a crucial support zone near $3,300 after a sharp 12% correction over the last seven days.
Tom Lee’s $63,000 Ethereum Price Prediction
Tom Lee issued a bold Ethereum price prediction where he claimed the price soon reach $63,000.
According to him, the forecast is based on the idea that the Ethereum network needs only to get a small percentage share of global financial markets, which the likes of Blackrock plan to tokenize on the blockchain.
The tokenization trend is gaining momentum, with major firms such as BlackRock exploring ways to bring real-world assets on-chain.
Ethereum, already valued at around $440 billion, is seen as one of the prime platforms capable of powering that shift.
If even a small portion of the global market finds its way onto Ethereum, the network’s long-term value could expand dramatically. Under that scenario, projections point to a potential price far above today’s levels, possibly reaching as high as $63,000 per coin.
Buyers Accumulated 869,000 Ethereum $ETH Around $3,700
Ethereum’s price action is now brushing up against a significant supply barrier, according to data shared by Ali_charts.
More than 869,000 ETH were accumulated around the $3,700 level, forming a heavy resistance zone that could slow down the next leg higher.
The cost basis heatmap from Glassnode shows a clear concentration of holdings around that price point, where many investors previously entered the market.
If Ethereum climbs back into this cluster, it could turn into a battleground against sellers, with some locking in profits and others cutting losses.
Meanwhile, support around $3,200 to $3,300 is holding for now considering that every dip to that zone has met buyers.
At the time of writing, ETH price is trading below resistance, with buyers keeping it steady and everyone watching that one key level.
Moreover, the altcoin could return to bullish territory with a reclaim of $3,600, opening the door for a potential push toward $5,000. On-chain data also shows heavy accumulation by large holders with Tom Lee’s Bitmine Immersion Technologies adding over 744,600 ETH to its treasury since October 5.
ETH Supply on Exchanges is Dropping at High Rate
According to a post by CryptoRover on X, the supply of Ethereum across exchanges dropped sharply, signaling a high rate of accumulation compared to selling.
This is a good sign and shows the market is ready to absorb any sell-side pressure that could push the price downwards.
As per this Ethereum price prediction, the path ahead will face resistance near $3,783, $4,231, and $4,549 based on Fibonacci extension levels.
Meanwhile, a group of exponential moving averages between $3,833 and $4,011 could create another major price resistance. A push above this zone could open the way for a stronger bullish move.
