Tom Lee: Hoping to see ETH break above the daily cloud layer, currently only 3.5% away from the breakout.

August 17th — Tom Lee, Chairman of the largest Ethereum treasury BitMine, referred to technical analysis today, expressing his anticipation for an upcoming technical breakthrough in Ethereum. The current price of ETH is only 3.5% away from breaking above the upper cloud of the daily Ichimoku Kinko Hyo chart, which would be the first time since October 9, 2025 to breach this key resistance. With the current Ethereum price hovering around $1906, the cloud resistance is within reach.

Tom Lee continued his optimistic view on Ethereum, building upon his previous analysis. In a public article in July, he believed that the ETH/BTC ratio would strengthen in the second half of 2026, driven by the Ethereum narrative, stablecoin growth, and asset tokenization. This latest anticipation of an ETH technical breakthrough is seen as a significant event by the technical community, with the upper cloud of the Ichimoku Kinko Hyo chart considered a crucial reference for trend reversal. Once successfully breached, it could potentially open up further upside.