Following a solid performance period that has brought lucrative gains for most crypto assets carrying on from the gains made in October, Ethereum (ETH) posted substantial numbers, which saw its value exponentially increase in this timespan.
Crypto specialist Michaël van de Poppe shared insights into the current Ethereum price and where it will face its next resistance point on November 13.
The analyst suggests that breaking above $2,150 in value could see this cryptocurrency settle between $3,100 and $3,600, as highlighted in his post on X.
Ethereum’s predicted resistance point. Source: Michaël van de Poppe
Another significance in breaking above the $2,150 value for ETH is that accomplishing this feat would mean an end to a bearish market and propel its projected value above the $3,000 threshold.
Van de Poppe suggests that “breaking above $2,150 marks the end of the bear market (for ETH), as this level is comparable to the $30,000 barrier of Bitcoin (BTC).”
Ethereum price analysis
At the time of press, ETH was trading at $2,090, which marks a positive change of 1.88% in the past 24 hours. This comes after an upside in the value of 9.29% over a 7-day period and a substantial gain of 34.89% in the past 30 days.
ETH 7-day price chart. Source: Finbold
Ethereum currently portrays vital positive signs, with its price above the 200-day simple moving average and exhibition of 22 green days in the previous month.
Furthermore, its price has increased by an impressive 69% in the previous year, while this period also saw it outperform 69% of the top 100 crypto assets.
This favorable period has seen ETH recuperate 10% of its value in a single day, showing further promising signs for this asset in the future period.
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