How to view BTH, ETH, SOL now, aiming for a new high in May!!
Bitcoin continues to move sideways between 94,000 and 95,000, with a small amplitude, trending upwards, and has not yet shown a top structure. After hitting 90K, there hasn't been a significant pullback; instead, it has brought a group of smaller coins to rise together. If this wave does not drop below 90K on a pullback, it will aim for the 100K mark.
At this moment, it feels like returning to the atmosphere of last October and November, where mainstream altcoins and MEME coins rise higher the more fearful they become. The short-term goal is to consider that the risk outweighs the opportunity when the next upward spike occurs. If there is no spike, it is still stable; right now, we mainly wait for the downward spike from Sunday to Monday and won’t enter long without a spike.
Ethereum
Before the Prague upgrade, I believe it can maintain a good momentum. If there are low points, they can be bought. According to the Fibonacci sequence, if Ethereum rebounds by 0.382, there is a chance to reach 2400. There is a lot of room for supplementary gains.
SOL indicators are exploding; will it rise to 180U next week?
The total market cap of SOL's stablecoins has broken its historical high again, reaching a terrifying 13.127 billion USD. It is worth noting that when the price of SOL was two hundred or even three hundred, its total market cap of stablecoins was less than half of what it is now. Now, the total market cap of stablecoins has doubled, but the price of SOL has not doubled; instead, it has dropped significantly due to the larger environment.
This is a strong bullish divergence, as the fundamentals are improving, but the price has not fully reflected this. In fact, SOL's performance has been very strong; this wave has rebounded from 95U to 154U, an increase of over 60%, with the next resistance at 180U. As long as there is a slightly favorable market condition, SOL will significantly outperform Bitcoin.
The Chicago Mercantile Exchange announced plans to launch XRP futures on May 19, pending regulatory review. Market participants will have the option to trade micro contracts (2,500 XRP) and larger contracts (50,000 XRP). This represents a legal entry for Wall Street into XRP.
This seems to be a positive signal for XRP, which could be an opportunity to prepare.
