Top 3 Hottest Coins in Jan'19 - Read TRX, ADA, STRAT Price Analysis

CoinSwitch | 11 January, 2019 | 2 min

Its the beginning of 2019 and these 3 coins are performing quite well as compared to their peers as per the cryptocurrency analysis. We have finalized on TRON, Cardano, and Stratis as the top hot coins in 2019, especially for this month. Let us understand the short term analysis of these coins and their potential in the upcoming days or months and can finally conclude whether these are the coins to invest in 2019.

TRON(TRX): TRX/BTC Analysis

Tron has been the best performer in the market recently and has seen a surge (100%+) for the past 40 days with news of BitTorrent company as per crypto market analysis. However, it needs to cool off(drop) before continuing the bullish momentum.

Bullish Case:

It will undergo a healthy correction after the recent surge and needs to hold the 488-530 satoshi level before moving up. If it manages to hold the 488-530 satoshi level then we might see the surge till 750+ satoshi level. The second level of support will be around 415-448 satoshi level and it needs to hold in order to continue bullish sentiments.

Bearish Case:

If the last level of support i.e. around 415-448 Satoshi doesn't hold then we might see it dipping to below 300 satoshi level in the coming days and weeks.

CARDANO(ADA): ADA/BTC Analysis

ADA has seen significant move(40%+) recently, in January 2019 and is expected to dip(drop) in the coming days for healthy correction before the next leg up.

Bullish Case:

It recently had a strong upward movement and will undergo a healthy correction(drop) in the coming days. If it manages to hold the support level(green bar) then it will try to the test the next resistance zone(red bar) around 0.00001400 satoshis.

The major resistance level lies in 0.00002000 satoshi zone, if broken then it would be super bullish for the asset.

Bearish Case:

If it doesn't hold the Support level(green bar) then we might see the 0.00001000 satoshi level. The last line of defense for ADA would be around 0.00000800 satoshi level, if broken then it would be pretty bearish for the asset.

STRATIS: STRAT/BTC Analysis

Stratis (STRAT), a platform focused on blockchain development, recently announced the release of the new Stratis Sidechains and Smart Contracts coded in C#, marking the production release of both sidechains and smart contracts which made it fall in the category of the top coins in 2019.

Bullish Case:

STRAT has broken the long term downtrend line(dotted) with 200 MA(Moving Average) and have moved significantly(150%+).

It has tested resistance(red bar) 0.0004500+ satoshi level and it's undergoing a correction(dip) and testing the first support level(green bar).

Bearish Case:

If the support level doesn't hold then we might see the last line of support level around 0.0001800-0.0001400 Satoshi. Breaking this level would be super bearish for the asset.


Conclusion

Overall there is still a lack of enough buy volume to continue the uptrend Hence major large-cap coins bitcoin,ethereum etc might see a retrace of 6-7% this week.People should be cautious in holding any altcoins position right now as we are still in bear market and instabilities is quite common in the crypto market.

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