Litecoin Surges 40% on Institutional Adoption and Bullish Momentum

Litecoin (LTC) has surged by nearly 40% in the past month, trading at approximately $124 and marking one of the most significant performances among major cryptocurrencies [1]. This rally has been attributed in part to a strategic move by pharmaceutical company MEI Pharma, which recently acquired 929,548 LTC at an average price of $107.58, establishing a treasury position worth over $110 million. The company, in partnership with GSR and guidance from Litecoin’s creator Charlie Lee, became the first U.S.-listed public firm to adopt Litecoin as a primary reserve asset [1].

According to Charlie Lee, this action represents a “clear, institutional step forward” that recognizes Litecoin’s potential as both a reserve asset and a component of global financial systems. The move has added credibility and visibility to LTC, reinforcing its appeal among both retail and institutional investors [1].

Several analysts have noted the bullish setup of LTC, drawing comparisons to its fivefold price movement in 2020. X user Crypto Dios highlighted similar chart patterns suggesting the potential for a major rally [1]. Analysts including Rain and Lucky—collectively followed by millions on social media—forecasted a short-term price target of nearly $150, based on current momentum and volume indicators [1].

However, technical indicators hint at the possibility of a near-term correction. The Relative Strength Index (RSI) for LTC currently stands at around 71, which is considered overbought territory, signaling a potential pullback [1]. Additionally, exchange netflow data over the last three days has shown inflows exceeding outflows, indicating a shift toward centralized platforms and suggesting increased short-term selling pressure [1].

While the immediate technical picture suggests caution, the broader narrative around Litecoin remains positive. Its historical role as a fast, low-cost alternative to Bitcoin, combined with recent institutional adoption, supports the notion that Litecoin could continue to gain traction in the evolving crypto landscape [1].

Source: [1] Litecoin (LTC) Soars by 40% Monthly: Is There More Room for Growth? (https://coinmarketcap.com/community/articles/689225c5c8d0247f47f33c64/)