News & Analysis / Analysis / LTC and EOS - Higher high expected before the completion of this rise

LTC and EOS - Higher high expected before the completion of this rise

FXOpen

LTC/USD

The price of Litecoin has been on the rise from Tuesday’s low of $104 and made an increase of 13.86% as it came up to $118.8 today. Since then we have seen some sideways movement but the price is in an upward trajectory overall.

LTC and EOS

Looking at the hourly chart, you can see that this increase is counted as the starting impulse from the new count which is why now a higher high would be expected. The sideways movement we’ve seen is in that case the 4th wave and is likely going to end as a flat correction, establishing support above the 0.786 Fib level.

If this is true, then the price is now set to continue moving to the upside for a higher high which would be the end of this first impulsive move after which a retracement would be expected of the same degree. But the price would then be expected to continue moving upward for at least one more wave if this is an ABC to the upside. If this is the 1st sub-wave of the higher degree impulsive move then we are to see even higher levels of the price of Litecoin in the upcoming period, potentially above the $150.

EOS/USD

From Tuesday’s low of $3.17 the price of EOS increase by 12% as it came up to $3,556 at its highest point today. Like in the case of Litecoin it started moving sideways but this is expected to end very soon with another higher high in sight.

LTC and EOSThis is most likely the begging of the higher degree five-wave move out of which we are only seeing the 1st wave yet to develop. This is going to be validated by the retracement that is going to be expected after the current higher high. If the price makes a retracement back above $3.4 and starts moving to the upside again that would be an early indication that we are to see further upside for the price of EOS.

In the near term we are looking at $3.8 as the price target for the current incline.

This forecast represents FXOpen Markets Limited opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Markets Limited products and services or as financial advice. Cryptocurrency CFDs are not available to trade in all jurisdictions.

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
1.09069
1.09071
Trade
GBPUSD
1.30583
1.30587
Trade
AUDUSD
0.62658
0.62660
Trade
USDJPY
147.548
147.555
Trade
USDCAD
1.42550
1.42558
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

Shares

Johnson & Johnson (JNJ) Shares Drop Over 7%

As the chart shows, Johnson & Johnson (JNJ) shares declined by approximately 7.6%, reaching their lowest level since late February. This marked one of the worst performances in the stock market yesterday.

Why Did JNJ Shares Fall?

Two major

Commodities

Gold Prices Hover Near Record Highs Ahead of Trump’s Tariff Announcement

As shown on the XAU/USD chart today, gold prices are fluctuating near their all-time high, set when the price of an ounce surpassed $3,140 for the first time in history.

Gold has risen by approximately 19% in the

Forex Analysis

Market Braces for Increased Volatility Ahead of New Tariffs

Amid global economic uncertainty and anticipation of new tariffs, major currency pairs continue to test key levels. In recent weeks, market participants have been exercising caution, awaiting potential changes in trade policy that could significantly impact exchange rates. The introduction

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.