You should probably EX sumo smash when you think he's gonna grab if you have charge. The TT won't grab you out of the air.

You can also neutral jump out of it, but if Abel thinks you are doing that he can Falling Sky you so mix it up.

Also, Breathless Ultra has one hit armor. So if you see someone activate it you can headbutt them out of it since its armor break. Just makes sure you do a fierce headbutt because if you do a jab or medium and it doesn't get there he can just delay the ultra until you come out of it and kill you then.