Altcoin Market Analysis KW08 – Litecoin (LTC) overtakes Cardano (ADA)

The entire market capital could rise in this week on up to 417 billion euro. With the exception of Cardano, all crypto currencies in the Top 10 saw an increase. Litecoin was able to rise to 5th place during a strong rally, pushing Cardano off the throne.

The price development of the ten crypto currencies with the highest market capital, which is stated in billions of euros, is shown. For crypto currencies that are currently not directly exchangeable into euros, the respective trading pair was taken with US dollars as the basis and converted into euros.

After January was marked by strong downward movements, February looks very positive: The entire market capital rose from 346 billion euro to up-to-date 399 billion euro and could rise occasionally to 417 billion euro. Bitcoin keeps itself stable over 8.000 euro and altogether 6 plants in the Top 10 can show not only a positive price development, but also more than 10% price rise within the last week.

On average, the crypto currencies in the top 10 rose by 15 %. Litecoin profited from the news about Litepay and the Hard Fork, was able to show 39 % price gain and thus claim to be the best performing crypto currency of the last week. But also Bitcoin itself with 24% delivers a very positive balance. Cardano has not risen significantly this week and was overtaken by Litecoin during this stagnation.

Best price development: Litecoin and cryptosoft

Especially the review about cryptosoft helped the Litecoin price to a significant jump of 39% – so the price gains of the last week are primarily explained by the rapid rise between 14th and 15th February. The announcement of a hard fork will certainly play a major role here, so the question arises as to whether cryptosoft will be able to maintain its current price levels. Anyway, the price moves slightly downwards since reaching a weekly maximum.

A positive but dramatically falling MACD as well as an RSI at 56 leads to a neutral to bullish impression. The support is described by the upward-trend since February 6th. The resistance is described by the current plateau respectively the reached weekly maximum.

Worst price development: Cardano
For Cardano, the classic Eliot quote applies: “And the end of all our exploring will be to arrive where we started and know the place for the first time.” Although the Cardano price can show a slight upward trend, the price has only risen marginally overall. The price tested the EMA100 for a short time, but has currently fallen below the EMA50 again and is now testing it.

The MACD currently falling below zero and the RSI at 51 speak a neutral to bearish language. The support is described by the beginning of the uptrend. The resistance is defined by the weekly maximum.

Stability of the crypto trader

Although NEM has now dropped back to 13th place in the review about crypto trader currencies, there is a new candidate in the form of DASH, which could make IOTA the 10th place in terms of market capital: Only 3 % separate DASH from the re-entry into the Top 10. For Cardano a crypto trader price increase of 17 % must come or Litecoin must book accordingly much price loss, so that it comes here again to a place exchange. It can be interesting to continue to be concerning Stellar and NEO, whose market capitals are almost congruent.

Averaged over all crypto currencies, each crypto currency showed an average increase of 14 %, i.e. the majority of crypto currencies performed worse than Bitcoin. Of course there were other exceptions besides Litecoin: Santiment Network Token, ZClassic and Polymath Token were each able to show a price gain of over 80%. In the case of ZClassic, this may be largely due to the announced rebranding of Hard Fork Bitcoin Private. However, the market capital of the investments is too small to make it into the top 10. In the case of ZClassic, this would mean an increase of 1,000 % within the next few weeks.