The Top 3 Cryptocurrencies of 2019
After being trounced in 2018, cryptocurrencies are showing strong signs of life.
In fact, many are outperforming stocks, gold, bonds, and oil. All thanks in part to institutional interest, escalating trade war tensions, and Facebook’s planned digital coin – which has already partnered with dozens of companies including Visa, Mastercard, PayPal Holdings, and Uber Technologies to back its currency.
As the rally just begins to get underway, we went looking for crypto outperformers, including:
Since January 2, 2019, BTC has rallied from $3,909 to $9,234, and could quickly approach $10,000 within weeks. While over-extended in overbought territory, the coin has now broken above major resistance at $8,205. Should it be able to break above May 2019 resistance at $9,904, the coin could break well above $10,000.
All as momentum builds on news of BTC futures on Bakkt, the end of the bear market, the China-US trade war, and the launch of Facebook’s coin. At the same time, investors should be cautious with the coin at its upper Bollinger Band (2,20) with overbought extensions on relative strength (RSI) and Fast Stochastics.
Learn How to Spot Unique and Predictable Patterns in Cryptos
On January 2, 2019, LTC traded at just $33.07. It’s now up to $135, and is also overbought at current prices. In recent weeks, the coin did break above double top resistance dating back to May 2018. At current pace, we wouldn’t be shocked to see a potential test of $178.02. Investors should be cautious here too with the coin at its upper Bollinger Band (2,20) with overbought extensions on relative strength (RSI) and Fast Stochastics.
Since the start of the year, the MKR coin has run from $489 to $746 with strong momentum. The coin, which offers a transparent system full inspectable on the ETH blockchain helps to manage the DAI stable coin. Better, Coinbase Pro has added support for the coin, too.
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