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  • Muir Glacier hard form activated on Ethereum blockchain.
  • ETH/USD stays range-bound, off the intraday low.

Ethereum developers team activated Muir Glacier hard from on block #9,200,000 as scheduled. The fork block was mined by @sparkpool_eth, the same mining pool that inaugurated Istanbul update. 

Ethereum creator Vitalik Buterin congratulated them on Twitter.

Congrats @sparkpool_eth once again for inaugurating Muir Glacier!

While the fork was implemented successfully, not everyone was ready for the update. According to Ethernodes.org, only 88.6% of all clients got ready and synced with the new version. Nethermind has some issues with syncing. Currently, it is about 500 blocks behind the rest. Also, five large exchanges have yet to confirm their Muir Glacier support. 

ETH/USD: technical picture

ETH/USD hit the intraday low at $128.40 and recovered to $129.40 by the time of writing. The initial resistance is created by psychologic $130.00 reinforced by SMA50 (Simple Moving Average) 1-hour and the middle line of 1-hour Bollinger Band. Once it is out of the way, the upside is likely to gain traction with the next focus on $131.30 (SMA100 1-hour) and $132.60 (the upper line of 1-hour Bollinger Band). December 31 high at $131.40 is likely to limit the sort-term recovery.

On the downside, the support comes at $128.70 (SMA200 1-hour) and $127.80 ( the lower line of 1-hour Bollinger Band) We will need to see a sustainable move below this handle for the bearish momentum to gain traction. The next bearish target is $125.00 and $122.50 ( December 27 low).

ETH/USD 1-hour chart