Litecoin Surges 15%, Analysts Predict Rally to $354

Crypto analyst Javon Marks has identified a compelling technical structure in Litecoin’s chart that mirrors its earlier breakout runs. With LTC trading at approximately $120 at press time, Marks has pinpointed $354 as his first target – representing nearly three times the current price level. His analysis emphasizes Litecoin’s historical tendency to break out of descending trendlines following extended accumulation periods.

“$LTC looks borderline ready to surge here,” Marks stated, highlighting the current setup showing rising support and strengthening momentum. The analyst further suggested that an extended move could potentially target $842.68, a level consistent with past large-scale rallies in the cryptocurrency. This optimistic outlook comes as Litecoin demonstrates an 8% gain over the past 24 hours alongside its 15% weekly increase.

Adding to the bullish sentiment, analyst Captain Faibik has examined Litecoin on the weekly timeframe, revealing a significant symmetrical triangle formation that has been developing since 2018. This technical pattern, characterized by lower highs and higher lows, shows the asset approaching the upper boundary of resistance. Faibik’s chart analysis projects a potential move to $648 if the breakout confirms – more than five times above current levels.

“$LTC will join the party soon, accumulate it before it’s too late,” Captain Faibik advised, pointing to the compression nearing its apex as a possible trigger for the anticipated move. The long-term nature of this formation, spanning multiple market cycles, lends credibility to the potential significance of any confirmed breakout from this structure.

According to analyst CRYPTOWZRD, Litecoin’s daily candle closed bullish while LTCBTC is working on a breakout from a falling wedge formation. This development could support a quick rally toward $140 and beyond. The analyst emphasized that Litecoin trading above the $112 support level remains constructive for the bullish case, unless Bitcoin shifts the broader market trend.

On the intraday view, LTC has moved over $115.50, with CRYPTOWZRD noting that a pullback and rebound from this level could provide another entry opportunity for traders. Holding above this level may lead to sideways movement before the next attempt higher. The momentum indicators further reinforce the current strength, with the MACD line well above the signal line and showing a growing positive histogram, indicating that buyers are driving the current move.

However, the Relative Strength Index (RSI) stands at 84, placing it firmly in overbought territory. While this confirms strong demand from buyers, it also suggests that a short-term pause or consolidation could follow the recent sharp rise. This technical setup creates a nuanced picture where underlying momentum remains positive but near-term consolidation appears likely before any sustained move toward the higher targets identified by analysts.