Litecoin (LTC) is showing signs of a potential breakout, with analysts suggesting a move towards $117.50 if it surpasses key resistance levels. This comes amidst a broader market recovery and increased buying activity in May 2025.
Over the past month and a half, Litecoin has experienced a 63% rally from April's lows, overcoming critical levels. Recently, it has recovered the $80 and $90 support levels and is attempting to reclaim the $100 mark. Fueled by the overall market recovery and Bitcoin's surge, LTC reached a two-month high of $107 earlier in May but has since faced resistance in maintaining the $100 level.
Analyst Carl Runefelt from The Moon Show has indicated a bullish pattern forming on Litecoin's chart, potentially pushing the cryptocurrency 20% higher to $117.50, a level not seen since early March. This bullish flag pattern emerged after hitting its two-month high, with Litecoin bouncing from the $92 support level, suggesting a high probability of breaking out to the upside.
Currently, Litecoin is hovering around $98-$99, just below the pattern's upper boundary. A surge above this level could pave the way for the pattern's $117.5 target and a significant push towards a key horizontal level. Analyst Rekt Capital noted that a monthly close above its key resistance level is needed for Litecoin to target $150 and beyond, emphasizing the $110-$125 horizontal level.
As of today, May 25, 2025, Litecoin is trading around $98. While some analysts predict a potential decline towards $71 by late June, others remain optimistic about a rally towards $117.50 and potentially $150 if key resistance levels are breached. Investors should monitor market volumes and technical levels closely to assess the sustainability of this momentum.