News & Analysis / Analysis / EOS/USD and LTC/USD - Further decline expected

EOS/USD and LTC/USD - Further decline expected

FXOpen

EOS/USD

The price of EOS has decreased back to the levels of Monday’s low as it came down by 4.81% to $3.496 at it’s lowest point today. It is currently being traded slightly above $3.5 mark but is struggling to make any movements and is stuck in a tight range. This is indicated by the wicks on the hourly candles from both sides which you can see from the hourly chart below.EOS/USD and LTC/USD - Further decline expectedFrom the yearly high at $4.05 which was made on the 14th of January the first time and later retested on the 17th, we have seen a decrease of 15.7% measured to the Sunday’s low at $3.42. This amount of decrease in combination with the wave structure and the impulsiveness seen, especially on Sunday implies that the correction of a higher degree started with the mentioned decline of over 15% being its first wave.

If this is true and the third one to the downside has started, projection the length of the 1st wave we come up with a target of around $3.1 which is slightly below 0.5 Fib level.

LTC/USD

From the start of the week, we have seen the price of Litecoin slightly increasing as it came from $55.8 at its lowest point on Monday to $59.155 at its highest point yesterday. But since yesterday’s high another move to the downside has occurred with the price currently being traded around the same levels as on Monday’s low.

EOS/USD and LTC/USD - Further decline expected

Looking at the hourly chart, you can see that the price of Litecoin has started moving impulsively to the downside again falling below the 0.382 Fibonacci level, wiping out all the recovery made since the start of the week. Since the price previously broke below the upper ascending trendline it was an early indication that we have seen the end of the impulsive increase from the start of the year of over 61%.

As the price continued its steep decline this is most likely the beginning of the 3rd wave to the downside out of the corrective structure from the higher degree. This could be the three-wave correction after which further increase would occur, but it could also be the first sub-wave of the higher degree correction in which case the price of Litecoin could fall back below $50 before another upturn starts.

In either way, from here I would be expecting further decline below the 0.5 Fibonacci level which is the ending point of the 1st corrective wave. If we project the length of that first wave on the ending point of yesterday’s high (presumed 2nd wave’s ending point), the target of $51.7 comes as a potential ending point of the current decrease which would bring the price of Litecoin to potential interaction with the lower ascending trendline where it might find support.

FXOpen offers the world's most popular cryptocurrency CFDs*, including Bitcoin and Ethereum. Floating spreads, 1:2 leverage — at your service. Open your trading account now or learn more about crypto CFD trading with FXOpen.

*Important: At FXOpen UK, Cryptocurrency trading via CFDs is only available to our Professional clients. They are not available for trading by Retail clients. To find out more information about how this may affect you, please get in touch with our team.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Stay ahead of the market!

Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.

forex

Instrument
Live ECN bid
Live ECN ask
Action
EURUSD
1.10174
1.10176
Trade
GBPUSD
1.31674
1.31674
Trade
AUDUSD
0.63378
0.63381
Trade
USDJPY
146.740
146.743
Trade
USDCAD
1.41263
1.41263
Trade
More
Crypto CFD Trading with FXOpen

Crypto CFD Trading with FXOpen

Experience ECN technology for deep liquidity and light-speed trade execution

  • Access over 40 markets 24/7
  • Trade with tight spreads and low commissions
  • Choose from 3 trading platforms: MT4, MT5, or TickTrader
Learn more

Latest articles

Forex Analysis

USD/CHF Falls to Its Lowest Level in Nearly Five Months

Today, the exchange rate of one US dollar against the Swiss franc dropped below 0.87000 francs—its lowest level since early November 2024.

Since the start of 2025, the USD/CHF pair has declined by more than 4%.

Why

Indices

S&P 500 Index Hits 2025 Low Following Trump's Tariff Announcement

As shown on the S&P 500 Index (US SPX 500 mini on FXOpen) chart, the benchmark US stock index dropped below 5,450 points for the first time in 2025. This decline reflects the US stock market’s

Forex Analysis

Interest in the Dollar Declines Amid Trump's Escalating Trade Wars

The tariffs introduced by Trump yesterday on imports from various countries—20% on the EU, 34% on China, and 46% on Vietnam—have heightened uncertainty in the currency markets. As expected, these measures have contributed to increased volatility in major

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.