Analyst predicts LTC’s Surge to $650 as 7-year Triangle Inches Closer to Breakout

TLDRLitecoin is forming a 7-year symmetrical triangle pattern, often a precursor to major price moves.Over 13 million LTC were accumulated in the $88–$99 zone, marking it as key resistance.Litecoin’s fast transactions speeds and low fees continue to attract usersCanary Capital filed for a spot Litecoin ETF with analysts giving a 90% approval chance.Litecoin (LTC), one of the oldest crypto assets, may be on the verge of a monumental price breakout, according to multiple analysts tracking long-term technical patterns.LTC’s Bullish Pattern Mirrors that of XRPIn a recent tweet, popular crypto analyst CryptoBullet spotlighted a massive 7-year symmetrical triangle on Litecoin’s chart , a pattern often preceding major price moves. He compared it to XRP’s setup before its Q4 2024 breakout, suggesting that LTC could soon lead to a similar surge.$LTC #LitecoinJust look at this giant Triangle that took 7 years to build!It does look like $XRP before the Q4 2024 breakout This huge $LTC accumulation will also resolve to the upside. Breakout is coming pic.twitter.com/tCskeqaTFy— CryptoBullet (@CryptoBullet1) May 7, 2025A symmetrical triangle forms when a market consolidates between converging trend lines. Technical theory suggests that breakouts often occur between 50–75% of the pattern’s lifespan. Litecoin’s triangle began forming in 2017 and now approaches its apex, pointing to an imminent breakout.Analyst Mohamed Sewid on TradingView reinforced this outlook noting that price action from 2022 to now indicates the triangle is nearing completion. According to him, even a dip below $50 wouldn’t invalidate the setup, as long as the triangle holds.Crypto analyst Crypto Patel also highlighted Litecoin’s recent breakout above a multi-year resistance line. He identified a key accumulation zone between $65 and $85 and projected price targets ranging from $255 to $650, with a long-term potential as high as $1,458.“While $1,000–$1,500 may not happen this bull run, I personally believe it’s possible in the near future,” Patel said. “I’m super bullish on LTC/USDT.”Onchain Metrics ShineThat said, on-chain data from IntoTheBlock also backs the technical setup, showing that investors bought over 13.13 million LTC in the $88–$99 zone. This range now acts as a critical resistance level. A clean breakout above it could propel Litecoin toward $150 and possibly even $650.Moreover Litecoin’s expanding use in real-world payments may drive its next price surge. Last month, the Litecoin Foundation reported that LTC was the most-used cryptocurrency on BitPay in March. It accounted for 38.7% of all transactions surpassing Bitcoin, Ethereum, and others. Litecoin’s 2.5-minute block time and low fees make it ideal for daily use. As crypto payments grew 20% globally from 2023 to 2024, LTC’s utility continues to stand out.LTC spot ETF; A Game Changer?Meanwhile, Litecoin appears to be gaining traction among institutions. Canary Capital, a digital asset investment firm, filed for a spot Litecoin ETF with the U.S. Securities and Exchange Commission (SEC). Although the SEC delayed a final decision as of May 6, 2025, Bloomberg ETF analysts give a 90% chance of approval, positioning LTC as a top altcoin ETF candidate.If approved, the ETF could trigger institutional inflows similar to those that boosted Bitcoin and Ethereum earlier in 2025, potentially delivering LTC’s long-anticipated breakout.At press time, LTC traded at $91.97, marking a 1.25% gain in the past 24 hours.The post Analyst predicts LTC’s Surge to $650 as 7-year Triangle Inches Closer to Breakout appeared first on CoinCentral.