Ethereum overview: ETH/USD stuck on approach to $131.00

ETH/USD muddled in the range amid market indecisiveness.
The short-term resistance lies with $135.00.

ETH/USD is changing hands at $132.70, mostly unchanged on a day-on-day basis. The upside is capped by $133.00, strengthened by the middle line of 1-hour Bollinger Band and SMA50 (1-hour) marginally above. If this area is cleared, the recovery may be extended to even more critical barrier at $135.00.

On the downside, the support is created by psychological $132.00 guarded by the lower level of 1-hour Bollinger Band. Once below, the sell-off will continue with the next aim at $130.00.

What’s going on

Cryptocurrency app Abra added direct support for Ethereum, which means that Abra users can hold, sell, and buy the coins directly from the wallet.

"In the past, Ethereum was available on Abra as a synthetic asset, which means that Abra users got exposure to the price movements of Ethereum’s currency, ether. This latest level of support also adds the ability for Abra users to directly deposit and withdraw ether to any other crypto wallet,” the company explained in a dedicated blog post.

However now Abra users can buy and move Ethereum wherever they want with ease.

Read more about Abra partnership here.

ETH/USD, 1-hour chart

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