Litecoin (LTC) climbed past $112 on July 18, riding the broader market’s recovery rally. LTC price’s bull run renewed interest in the token, with the recent spike taking Litecoin’s July gains to 36% MTD.
Analysts on social media are speculating a breakout unfolding for the token, with charts flashing a potential continuation toward the $400 mark. From multi-year resistance retests to classic reversal patterns, LTC appears to be shaping up for its biggest leg up since 2021—if bulls can hold above key breakout levels.
Furthermore, LTC price rally could gain further traction after MEI Pharma revealed plans to allocate Litecoin as part of a newly announced treasury reserve strategy.
Analysts Eye Multi-Year Breakout With $300 in Sight
Analysts tracking Litecoin’s latest price rebound see more fuel left in the tank.
An X-based trader Planfomo posted a multi-year horizontal resistance setup that capped LTC’s rallies near the $115–$120 zone in 2019 and 2021. He noted that previous breakouts from this range triggered 250%+ rallies, with the price eventually hitting $300.
According to the post, LTC is now once again testing this key zone. A successful weekly close above $120, he argued, would open the gates to a new mid-cycle surge.
Another analyst, Crypto Target, highlighted a large cup-and-handle formation on Litecoin’s weekly timeframe. He pointed to an early-stage breakout already in progress and called the structure “nuclear,” suggesting the move could extend deep into the $200s.
The volume profile around the $105–$110 area remains thin, supporting the idea that price discovery could accelerate quickly once LTC clears $120.
CryptoSnorlax took the long view. Referencing previous cycles that ended with LTC above $350, he called $450 a “base case” for this cycle. This is assuming broader altcoin momentum continues. The analyst’s chart showed structural similarities to the 2017 and 2021 runs, where LTC followed Bitcoin’s lead with a delayed yet explosive breakout.
Moreover, another analyst, Santolita, shared a chart that was simpler but echoed the same logic. The analyst mapped a breakout from a wedge pattern and projected a 90% upside toward $190–$200. This marks it as a clean continuation from the $100 base.
With breakout structures aligning across timeframes, analysts now watch for confirmation above $120 before fully committing to their $220–$300 target.
MEI Pharma Reveals Litecoin Treasury Plans
MEI Pharma confirmed a $100 million private placement to convert its corporate reserves into Litecoin. The deal, led by GSR and Litecoin founder Charlie Lee, includes issuing over 29 million shares at a premium to the stock’s last close. Once completed, MEI will hold LTC as a treasury asset. MEI will become the first public company on a national exchange to do so.
Charlie Lee is set to join MEI’s board following the deal’s expected closure on July 22. The company stated that the move reflects its shift from biotech to asset management, citing Litecoin’s fixed supply and operational track record.
Following the news, LTC price continued its rally, which was losing some steam earlier in the day.
The implications are not speculative. If the LTC reserves remain on-chain and untouched, supply-side pressure could tighten. The price reaction so far suggests the market views this as more than a one-off event. Litecoin could attract further inflows if more firms adopt similar treasury policies.
