Bulls are not going to give any kind of chance to bears, which is confirmed by the total market cap rise by almost $10 billion over the last day.
The news background is also very good, as Fidelity is about to offer cryptocurrency trading within the next few weeks. The company already serves deposits for storing Bitcoin.
Moreover, $60 million was deposited into Binance, and so far it has been a perfect indicator of growth.
However, reports about the CFTC's approval of Ethereum futures were a critical factor in the rise of prices.
As a result, the ETH price almost reached a new ATH in 2019.
BTC/USD
Our Bitcoin prediction made yesterday came true, as the price continued its growth to the $6,000 mark. It seems that BTC does not intend to be adjusted for the time being, and will probably make another impulse. However, it is crucial to discard all emotions and understand how to make the most profit in this situation.
On the hourly chart, Bitcoin broke a resistance level at $5,800 and is struggling to achieve the essential $6,000 point. Now, one can say for sure that the quotes will never reduce below $5,300.
Regarding the technical indicators, RSI is on the verge of the overbought zone, and a correction to $5,800 is likely to happen in the short-term scenario.
The price of BTC is trading at $5,913 at the time of writing.
ETH/USD
Ethereum is definitely the coin of the day, as its price has soared by more than 10% over the last 24 hours. As we mentioned above, the reason for such a rise is the CFTC's decision to start trading Ethereum futures.
Also, a derivative Ethereum-based contract can improve the pricing characteristics of the asset, as well as increase investor confidence in the cryptocurrency since regulators will need to oversee transactions.
Analyzing the 1-hour chart, the ETH rate skyrocketed and could even reach $190, however, then a rollback followed. Currently, the quotes are trading near the 61.8% Fibonacci level, meaning that the asset is more overbought than oversold. In terms of the nearest price, the rate may drop to the $177 mark before moving up again.
The price of ETH is trading at $187.57 at the time of writing.
XRP/USD
The Ripple quotes are not similar to price changes of other cryptocurrencies. The positive news background has no or little influence on the rate; however, the rise of other assets, particularly Ethereum, has caused the growth of XRP.
Our Ripple analysis made yesterday looks promising, as the price has broken the $0.30 level and is moving on its way to $0.31. At the moment, XRP is located between the support zone at $0.3030 and the resistance one at $0.3070 on the 30-minute graph. Since May 6, the rate is in the uptrend according to the MACD indicator.
The trend change happens when XRP moves below the $0.3050 point. In another case, reaching and fixing at the verge of the $0.3070 mark is a possible scenario for the upcoming days.
The price of XRP is trading at $0.2974 at the time of writing.
Arman Shirinyan
Yuri Molchan
Alex Dovbnya
