Ethereum (ETH) is eyeing a break above a significant resistance level at $2,150 with the potential of surging to between $3,100 and $3,600, as per crypto analyst Michael van de Poppe’s projection. The catalyst for this upward momentum could be the approval of a spot Bitcoin ETF and developments on Ether spot ETF applications.

The top altcoin reached highs of $2,136 last week before retracing to $2,016 over the weekend. However, there has been an upturn on Monday as the price rose to approximately $2,120. The possibility of a spot Bitcoin ETF approval is seen as a potential catalyst for both BTC and ETH, with a plausible approval window open until November 17.

Analyst’s Perspective on ETH After Breaking Resistance

According to analyst Michael van de Poppe, if Ethereum can overcome the critical hurdle at $2,150, its price could potentially skyrocket to around $3,100. The analyst likens this resistance to the barrier that restrained bullish attempts for Bitcoin at $30,000. He shared this prediction with more than 672k followers, affirming that a breakout could mark the end of the bear market for ETH.

**Addition**: Additionally, the analyst presented a price chart for Ethereum, illustrating an ascending triangle pattern, which suggests a possible bullish breakout and identifies the anticipated primary resistance zones. As of Monday evening, Ether was trading around $2,093, exhibiting a 2.4% increase in the past 24 hours and a remarkable 11% surge in the past week, and a 35% increase in the past 30 days.

**FAQ**

**What is the current resistance level for Ethereum (ETH)?**
The current resistance level for Ethereum is at $2,150, and if surpassed, it could propel the cryptocurrency’s price to $3,100.

**What catalysts could contribute to Ethereum’s potential price surge?**
The potential approval of a spot Bitcoin ETF and developments on Ether spot ETF applications are among the catalysts that could drive Ethereum’s price higher.

**How has Ethereum’s price performed recently?**
Ethereum reached highs of $2,136 last week before retracting to $2,016 over the weekend. However, the price saw an increase on Monday, rising to approximately $2,120.

**What was the analyst’s prediction for Ethereum’s price if the resistance level is broken?**
According to analyst Michael van de Poppe, if Ethereum breaks above the resistance at $2,150, its price could surge to around $3,100, with a possibility of reaching $3,600.

**Summary**:
Ethereum (ETH) is on the verge of breaking a crucial resistance level at $2,150, with the potential to surge to between $3,100 and $3,600, according to crypto analyst Michael van de Poppe. The catalyst for this upward movement could be the approval of a spot Bitcoin ETF and developments on Ether spot ETF applications. The analyst likened the $2,150 resistance to the barrier that restrained bullish attempts for Bitcoin at $30,000 and suggested that a breakout could mark the end of the bear market for ETH. As of Monday evening, Ether was trading around $2,093, with a 2.4% increase in the past 24 hours, an 11% surge in the past week, and a 35% increase in the past 30 days.