Tom Lee Shrugs Off ETH Sell-Off, Says Fundamentals Don’t Match Falling Prices

Ethereum’s (ETH) price plunged over the weekend, sliding from around $2,900 to near $2,100 as selling pressure intensified. It has since stabilized slightly as of Tuesday, but remains down more than 26% over the past month.

Despite weakening investor confidence, Fundstrat head of research Tom Lee attributed the crypto asset’s weakness to the absence of leverage and gold’s rally rather than deteriorating Ethereum fundamentals.