Litecoin' is quickly losing market cap and for two simple reasons. MARKETING and Lack of Direction!!!
Before I get all the comments on how great the coin is, how Charlie is a genius and has big things planned for 2018", let me inject what my grandfather would tell me when I would tell him that I had big plans to do something. "Son the Highway to Hell is paved with Good Intentions". This is how I feel about Litecoin'. All the potential, a genius at the helm, and in lieu of marketing, and a lack of direction, professionalism and outright childish tweets, they are quickly about to drop from the top 10 in market cap! You mean IOTA might pass them? YEP and I bet you don't see that tweet other than from maybe Roger Ver! IOTA' does not even have a working product! Those few days at #2 were as short lived as krispy kreme donuts at a weight watchers meeting. Two weeks later, barely hanging on to #9, and by a thread.
In fairness, the area they are in is cash transactions and this is going to be a dog eat dog space. I'm not sure Charlie is up for it. Roger has come out firing and is getting recognition whether you like it or not, and is positioning BCH' to be the coin for every day use. Hate all you want, and I do not care about number of transactions, Roger is serious and the market has currently decided which is better. Like those Linux guys that are now responding from MSFT' Windows. But there is Hope. Dash and or XRP do not make it to Coinbase ;). Just joking. A CATALYST! Litecoin needs a website makeover and a good marketing plan. I do not want to hear, they are working on it, I want results!
This is a longer term 2 day chart. Now the is well defined with a beautiful . I mean its just what we like to see. Though we had a nice rally we have pulled back to the around $145, recovered, appear to be consolidating into a nice trend channel. I love channels! My favorite trade and a low risk one at that. So if you are new to trading this is setting up nicely.
So I intend on trading out of the Darvas box by adding a position with a swing trade target of $375. At that point we will see how the market reacts. In the long term we have a $760 target level, however, we will have to monitor for any changes. This is not a buy here sell here trade. All we need to set the dominos in motion is a catalyst. Maybe we get a new website, maybe Charlie announces a partnership with Target. That would be huge for both! Bottom line we need a catalyst. Otherwise step by step LTC' will drop in market cap and more importantly market share. The trend does not have to continue up. We are not in Kansas anymore! Coinbase is adding and LTC' may be a has been like Yahoo!
NEWS ON RIPPLE
Also seems ripples value has been decreased, not sure this affected the chart though. They highlighted Korean market of ripple with an asterisk on coinmarketcapp because they over inflate estimates so seems perhaps their market is no longer considered in market valuation.