Ethereum Price Jumps But Tom Lee Sees ‘Discount To The Future’

The Ethereum price jumped 2.4% in the last 24 hours to trade at $4,186 as of 4:05 a.m. EST on trading volume that surged 41% to $36.2 billion.

This comes as BitMine chairman Tom Lee says ETH is priced at ‘a discount to the future’ with future adoption of the blockchain by Wall Street and AI companies set to push the token higher.

“We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years,” Lee said. “Wall Street and AI moving onto the blockchain should lead to a greater transformation of today’s financial system. And the majority of this is taking place on Ethereum.”

Lee’s words come as BitMine announced on Monday that its holdings stand at 2.65 million Ether worth $11.6 billion. 

🔥 BitMine now holds 2.65M ETH ($11B) — by far the world’s largest ETH treasury.

Chairman Tom Lee: “ETH is trading at a discount to the future” 🚀 as Wall Street + AI adoption accelerate.

Bit Digital also eyes a $100M raise to stack more ETH. pic.twitter.com/D7WQ5GFvhT

— Jessica Gonzales (@lil_disruptor) September 30, 2025

ETH treasury firms are now sitting on an Ethereum hoard worth $15.8 billion, according to Coingecko data. This represents just under 10% of the total Ethereum supply.

With the accumulation gaining traction, can the price of ETH continue soaring?

Ethereum Price Recovery Attempt: Can The Bulls Reclaim Control?

The ETH price is currently trading around $4,186 after bouncing off recent lows. The broader trend since mid-summer has been bullish, with a strong rally that took ETH above $4,900 before retracing.

This retracement found support around the 0.382 Fibonacci level near $3,909, from where buyers stepped in.

ETH is in a short-term upward channel (dashed trendline), suggesting that the recent dip may have been a corrective move within a broader bullish structure.

However, the price of ETH is trading just below the 50-day Simple Moving Average (SMA) ($4,399), which is acting as immediate resistance. A decisive breakout above this level could confirm a renewed bullish momentum.

Meanwhile, the Relative Strength Index (RSI) is at 46, a neutral reading that leans slightly bearish. This suggests that Ethereum is neither overbought nor oversold, leaving room for momentum to shift either way depending on upcoming price action.

According to the Fibonacci Retracement levels, $4,304 (0.236) is immediate resistance, while $3,909 (0.382) acts as the closest support.

A breakdown below $3,909 could expose ETH to deeper pullbacks toward $3,589 (0.5 retracement). On the flip side, a breakout above $4,304 could set the stage for a push toward the $4,900 zone again.

If Ethereum can break and sustain above the $4,304–$4,400 zone, momentum could favor the bulls, potentially sending the price toward the $4,900 region once again, a move that represents about a 17% upside from current levels.

On the other hand, failure to clear the 50-day SMA and a drop below $3,909 could trigger further downside toward the $3,600–$3,270 support range.

According to analyst Ali Martinez, ETH could still plunge to $2,400.

Is it crazy to think Ethereum $ETH could drop to $2,400? pic.twitter.com/nBpoDYwd4g

— Ali (@ali_charts) September 30, 2025

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