🔥 LTC Breaks $117—What’s Next After the 20% Surge? 🚀📊

Litecoin has taken up in recent weeks, matching the altcoin market's recovery. For the first time since mid-May, the LTC coin rose over $100 this week.

On Saturday, July 19, Litecoin rose past $110 to end a thrilling week. An skilled crypto trader on X noted that LTC may be just starting a lengthy surge.

IS LTC About To Rise 900%?

Despite its recent market adventures, Chartered Market Technician (CMT) Tony Severino said on X that Litecoin's price is positive. According to the crypto expert, LTC is about to break out bullishly, which might affect its trajectory in the next months.

A multi-year contracting (or symmetrical) triangle formation on the Litecoin 2-week chart supports this optimistic prediction. Technical price analysis' contracting triangle pattern has a falling upper boundary (linking lower highs) and a rising lower trendline.

During a symmetrical triangle, the asset price contracts and approaches the peak. A breakthrough or breakdown will occur when the price breaks the upper or lower trendlines. This chart formation might be a continuation or reversal pattern dependent on the break (breakout or breakdown) and starting trend direction.

Symmetrical triangles are continuation patterns, hence the price usually breaks in the beginning trend direction. If history is any indication, Litecoin's price will certainly rise after breaking out of the present setup.

According to Severino, Litecoin is about to break out of its multi-year symmetrical triangle and may go over $410, its all-time high. The price goal for a contracting triangle is the wider point of the triangle (base) plus the breakout point.

According to this reasoning, Litecoin's price might rise above 900% in the next months.