Litecoin (LTC) has surged to around $120, marking a 15% weekly increase. Analysts perceive this upward movement as a potential breakout, anticipating further gains if significant levels hold.

Analyst Eyes $354 as First Target

Crypto analyst Javon Marks noted that Litecoin’s chart resembles previous breakout patterns, identifying $354 as an initial target, nearly threefold its current price. He pointed out that Litecoin has historically surged past descending trendlines after consolidation periods. “LTC looks borderline ready to surge here”, Marks stated, forecasting the potential for prices to reach $842.68 amidst substantial rallies.

Litecoin Insight Source: Javon Marks/X

Long-Term Triangle Formation

Analyst Captain Faibik analyzed Litecoin on a weekly basis, observing consolidation within a symmetrical triangle since 2018. This pattern demonstrates lower highs and higher lows, with the asset nearing monthly resistance.

“LTC will join the party soon, accumulate it before it’s too late..” — Captain Faibik 🐺 (@CryptoFaibik)

Faibik predicts a breakout could set Litecoin in motion toward $648, more than five times its current value. According to CRYPTOWZRD, Litecoin’s daily candle closed bullish, and current dynamics could see it touching $140 under favorable conditions.

Daily and Intraday Perspective

CRYPTOWZRD indicated trading above $112, critical for maintaining constructive momentum unless Bitcoin shifts the market landscape. Litecoin recently crossed $115.50 with analysis suggesting potential pullbacks that could yield re-entry opportunities. Observations show positive indications via momentum tools, with MACD above the signal line, highlighting buyer strength across the market.

Litecoin Trends Source: TradingView

The RSI is at 84, placing it in overbought territory, suggesting a pause may occur after this bullish movement.