LTC and EOS - Exponential growth coming to an end?
LTC/USD
From the 3rd of January when the price of Litecoin was sitting at $38.9 we have seen an increase of over 52% as it came to $59.34 at its highest point yesterday. Currently, the price is being traded slightly lower at around $55.6 as the price started moving to the downside again.
From the 3rd of January when we saw a first retracement ending on a higher low so it could have been the 1st wave out of the presumed five-wave impulse to the upside. If this is true then we are most likely seeing the development of its 3rs wave but considering that the price increase from the 1.272 Fibonacci level until the 0.786 was smaller in size compared to the previous one this is yet to be validated.
Another possibility could be that we are seeing the second wave X as the correction of a higher degree could have gotten prolonged in which case the currently seen rise would be sub-divided into three waves.
EOS/USD
On the EOS chart, you can see a similar picture as in the case of Litecoin, as this cryptocurrency also experienced an exponential increase from the start of the year. From the 3rd of January when the price was sitting at $2.44 we have seen an increase of 65.82% measured to the highest point the price has been which is at around $4 made Tuesday this week.
If the price is to continue increasing from here the next significant level would be at around $4.16 but if it continues decreasing from here I could fall back below $3 mark again.