- The partnership between PayPal and MetaMask will enable US users to purchase and transfer Ethereum seamlessly.
- Ethereum price is trying to regain critical resistance at $1,432 with bullish support.
- If buying slows and the price falls again, $1,187 will act as a key support for the Ethereum price and a loss of it will invalidate the bullish thesis.
Along with Bitcoin and Litecoin, Ethereum is one of the most in-demand cryptocurrencies for cryptocurrency payments and purchases. PayPal is making the most of this opportunity by integrating the service with his MetaMask to give users more options to move their assets.
PayPal partners with MetaMask
In a press release on Wednesday, PayPal announced that its payment platform has partnered with crypto wallet service provider MetaMask. PayPal integrates its buying, selling, and holding services with wallet companies.
This will allow users to use their PayPal account as a payment method to purchase Ethereum (ETH) from the MetaMask app itself.
Lorenzo Santos, product manager at fellow MetaMask developer ConsenSys, said:
“This PayPal integration will allow US users to seamlessly purchase cryptocurrency through MetaMask as well as easily explore the Web3 ecosystem.”
The partnership will make transfers and purchases, including ETH, seamless. However, it will take several weeks for the service to reach US users.
Ethereum Price Aims To Move Up Charts
Ethereum’s price has continued its upward trend in recent weeks, rising from a low of $1,083 on Dec. 21 and trading at $1,314 at the time of writing. The cryptocurrency will approach the $1,400 tag in the next few days.
To start the recovery rally, Ethereum needs to collect $1,430 as a support floor. This is only possible if ETH breaks his $1,352 immediate resistance.
If the red candle bounces off the $1,306 support level, the aforementioned could happen. According to the Parabolic Stop and Reverse (SAR) indicator, altcoins are in a brisk uptrend, a good sign of recovery.
ETH/USD 4-hour chart
However, a change in wind could see Ethereum price drop and the altcoin cross multiple support levels.Crypto could bounce off critical support at $1,187 but lose this level , the bullish thesis is invalidated. As a result, ETH will tag a low of $1,145.
