Ethereum price (ETH/USD) edges lower after poor Wednesday morning session

Dimitar Bogdanov
  • March 13th 2019, 16:01
  • Last Updated: September 18th 2019, 19:53

The Ethereum price (ETH/USD) has edged lower after experiencing some disappointing trading, especially during today’s morning session.

The second-largest digital currency on the market had a rough start to yesterday’s session, as its price tumbled to a one-week low of $130.94 during the early hours of trading. However, after spending a couple of hours defending the $130 mark, ETH experienced a sharp rebound that allowed it to recover its earlier losses and return to the positive territory. The digital coin eventually finished the day at $134.44, slightly up from its opening price of $134.01.

Even though it had finished the Tuesday session on a somewhat positive note, Ethereum experienced significant difficulties during today’s morning trading. Once again, the coin experienced a poor start, and while it made several attempts to resist the selling pressure, the downward trend largely dominated the morning session. Ethereum’s decline resulted in an intraday low of $132.72, according to digital currency tracker Coinmarketcap.

The early afternoon session was more promising for Ethereum, as the coin managed to rise to as high as $133.93. However, the coin has seen another pull-back in more recent trading and is currently trading at around $133.50.

In other Ethereum-related news, industry website Cointelegraph reported that digital currency wallet and exchange Abra has added native support for the cryptocurrency.

According to a blog post published on Tuesday, Abra users can now hold, sell, and buy Ethereum directly from their wallet. Previously, Abra supported the coin as a “synthetic asset”, meaning that users had exposure to the price movements of ETH, but could not hold the physical token.

In today’s trading, the Ethereum price stood at $133.51, as of 15:58 GMT. The digital coin has lost 0.7% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at just over $14 billion.

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