LTC and EOS - Is the increase ending?
LTC/USD
Since the start of the week, the price of Litecoin has been increasing and has come up from $55.84 at it’s lowest point to $62.86 at it’s highest which is an increase of 12.57%. The price is currently being traded around the levels of today’s high but is starting to show the signs of struggle to keep up the upward momentum.
Another possibility would be that the price ended its 5th wave on the 17th of January in which case the current increase could be corrective in nature, but in either way from the current levels we are to see the start of a downside move either as the 2nd wave of the higher degree, or further downtrend continuation if this five-wave impulse was the part of the correction to the upside.
EOS/USD
From Monday’s open at $3.64 the price of EOS has increased by 15.5% as it came up to $4.2 at it’s highest today and is still being traded around those levels. The price is still in an upward trajectory and is indicating bullish action.
As we have most likely seen the higher degree five-wave impulse from the 17th December last year the increase is soon expected to end, but that doesn’t mean that the price is can’t continue moving to the upside for another 10% as there is still room to go to. The ending wave is most likely developing and considering that it surprised the prior high it might continue to the next horizontal level to the upside which is at $4.6 but that all depends on the current interaction with the horizontal resistance.