Litecoin’s Monthly Close Over This Threshold Could Trigger a 50% Surge

As Litecoin (LTC) strives for a breakout from a prevailing bullish pattern, analysts suggest that closing above a key horizontal range this month could drive the price to heights reminiscent of the 2021 surge.

Related Insights

Litecoin’s Key Breakout Attempt

In the past month and a half, Litecoin has experienced a notable 63% rally from the lows observed in April, surging past critical levels. This month alone, the cryptocurrency has regained support at $80 and $90, attempting to breach the $100 threshold once again.

Driven by market recovery and Bitcoin’s climb past $100,000, LTC reached a two-month peak of $107 almost two weeks ago. Since then, the altcoin has faced challenges in maintaining its position above the $100 mark.

In a recent analysis, Carl Runefelt from The Moon Show indicated that Litecoin “is on the verge of a significant uptick.” He pointed out a bullish setup in LTC’s chart, predicting a potential rise of 20% towards the $117.5 level for the first time since early March.

According to Runefelt’s analysis, the cryptocurrency has formed a bullish flag pattern following its recent peak. Since then, LTC has traded between the upper and lower boundaries, previously bouncing from the support line back toward the resistance line.

Earlier this week, Litecoin again rebounded from support after dipping to $92, prompting the analyst to state it has “every opportunity to break out of this bullish flag to the upside.”

On Friday, the altcoin recorded an 11% jump from its pattern lows, briefly surpassing the $102 mark before retreating to around $96. The cryptocurrency is currently positioned between the $98-$99 range, only 1% below the upper boundary of the pattern.

A decisive move above this threshold to confirm the breakout might pave the way towards the pattern’s target of $117.5, indicating a significant advance toward a critical horizontal level.

LTC Gearing Up for a Rally to $150?

Analyst Rekt Capital has pointed out that for Litecoin to target the $150 level and beyond, it is essential to achieve a monthly close above its significant resistance. He emphasized the $110-$125 horizontal level, noting that LTC typically remains beneath it for extended periods, with only brief instances above.

The analyst noted that rejections at this resistance level have become “progressively weaker over time,” highlighted by LTC’s recent attempt to revisit this area as support during the early 2025 rally.

Although this level was not reclaimed, it implies that the resistance is “losing its grip,” suggesting that a breakout in this region could signify a high likelihood of a successful retest.

Related Insights

Furthermore, the diminishing strength of this resistance level may stem from its long-term macro higher low, as Litecoin has consistently bounced from the ascending trendline towards this resistance during retests.

Considering these factors, the analyst believes that securing a monthly close above this crucial horizontal level, followed by a retest, could provide the momentum needed for a 30% surge above the $150 mark, a milestone not seen since 2021.

As of now, Litecoin is trading at $98.60, reflecting a 2.7% decline over the past week.