LTC has broken out of a 1,200-day range, reclaiming $114 as new support—momentum is building.
MEI Pharma reportedly launched a $100M LTC treasury strategy, triggering a surge in volume.
If $114 holds, technicals point to $147 short-term and $296 as a long-term bullish target.
After years of sideways action, Litecoin is finally making headlines again. A $100M institutional purchase and a confirmed technical breakout have pushed LTC into the spotlight, setting the stage for a potential sustained rally.
A Breakout Three Years in the Making
Source Daan Crypto
The breakout didn’t just flash and fade—it held on a retest, confirming the move as legitimate. What makes this level so important is its history: it acted as a launchpad in 2021 and a ceiling throughout the bear market.
Even more compelling is the descending wedge structure visible on the chart. The breakout from this classic bullish pattern projects an upside move to around $147—a level that lines up with the previous swing high.
Treasury Buzz Adds Fuel to the Fire
Momentum really kicked in after a tweet by BWENews claimed that MEI Pharma had scooped up $100 million worth of Litecoin. The company, in collaboration with GSR and LTC creator Charlie Lee, is reportedly rolling out a dedicated treasury strategy. While the disclaimer “no accuracy guaranteed” tempers full conviction, the market didn’t wait—volume surged and price shot up to nearly $130 before cooling off.
https://twitter.com/DaanCrypto/status/1952787464893968771
Daan Crypto Trades, a well-followed analyst on X, noted that the sell-off following the news was expected. “Coins were already bought,” he said, pointing out that the next move depends on whether more institutions follow suit. He added that while Litecoin may not outpace the flashier altcoins, its slow-and-steady chart setup looks promising—especially if it continues to hold above key levels.
4-Hour Chart Signals Healthy Pullback
Source Alpha Crypto Signal
Price is now pulling back to test the $114–$116 region—a zone that previously acted as resistance and now offers potential support. This area also aligns with both the 9-period EMA and 50-period SMA, giving added confidence to bulls.
If buyers step in here and volume returns, the next leg could take Litecoin to $130 and then $147. A breakdown, however, could shift focus back to $111.
