Ethereum Price Looks Upwards; Apeiron Game Announces $1M Championship

By: Eliza Bennet

As Ethereum price eyes a fresh uptick with an anticipated upside break above the $2,900 level, significant gains for Ethereum may lie ahead. Coupled with an enticing $1 Million eSports championship for the Ethereum and Ronin strategy game Apeiron, Ethereum continues to have a great impact on the crypto world.

• Ethereum is in the process of forming a base higher than the $2,860 support zone.
• ETH is presently being traded slightly below $2,950 and the 100-hourly Simple Moving Average.
• Ethereum’s price could see a healthy increase if it successfully closes above the resistance levels of $2,940 and $2,950.

Ethereum and Apeiron Break New Ground

Ethereum's price struggled to stay above the $3,000 level and fell again, similar to Bitcoin. However, the price is being consolidated around $2,860, and it is expected to rise again above the $2,900 level. This expected price hike targets the $2,925 level and 100-hourly Simple Moving Average. Another important event in the Ethereum world is the Ethereum and Ronin strategy game, Apeiron’s announcement of a $1 Million eSports championship. This championship is projected to take place as part of a tournament in Hong Kong, and players from round the world could win a substantial part of the large prize pool.

What Lies Ahead for Ethereum?

The subsequent key resistance for Ethereum is $2,950. If it crosses that resistance level, the price might gain momentum and shoot up towards the $3,000 level. If a clear move above the $3000 level happens, the price might rise further testing the $3,050 resistance. Continuous gains could send Ether towards the $3,150 resistance zone. Should Ethereum fail to clear the $2,925 resistance, another downfall could be on the horizon.

Technical Indicators:

The MACD for ETH/USD indicates a possible decrease in momentum in the bearish zone. And the RSI for ETH/USD is currently below the level 50.