December 27, 2018 / by Bill Noble
Ethereum (ETH) has exceeded the key resistance. This could be an indicator of the fact that the main bear market is over. A decline to $ 117 could be a good buying opportunity (Figure 1).
Litecoin (LTC) is approaching support at $ 27.75 (Figure 2). If the area around $ 29 can hold support, the chart is set for Litecoin (LTC) to participate in any potential rally in Bitcoin (BTC) and Ethereum (ETH).
While the charts of Ethereum (ETH) and Litecoin (LTC) are interesting, there might be a better reason to consider these coins. Looking at the ranking of coinmarketcap.com's best market capitalization currencies, the Ethereum (ETH) and Litecoin (LTC) rankings suggest that there is room for these coins to level up.
First, Ethereum (ETH) has now returned to the Ripple screaming distance (XRP). Should Ethereum (ETH) not be above Ripple (XRP) on the market capitalizer chart? The SEC stated that Ethereum (ETH) is not a security. The same can not be said for Ripple (XRP).
Secondly, Litecoin is behind Bitcoin Cash (BTC), EOS and Tether (USDT) in terms of market capitalization ranking. While we admit that it is not a comparison between apples and apples, Litecoin has a case of use. We buy coffee and goods at low prices with it. The case of use behind Bitcoin Cash (BCH) and EOS is nebulous at best.
Bottom lineLooking at 2019, it will make sense to start exchanging coins based on where their market capitalization is relative to other currencies. Ethereum (ETH) and Litecoin (LTC) have market capitalizations that appear to be too low compared to other large currencies. This could create Ethereum (ETH) and Litecoin (LTC) as long candidates assuming support points are valid. Join me in the Crypto.IQ trading room while we focus on potential access points.