Litecoin has been on the rise recently, experiencing a significant increase in value and trading volume. The cryptocurrency has shown a 43% gain since the beginning of the year, with a notable surge in investor excitement in the past week.

An analysis by cryptocurrency expert Rekt Capital suggests that Litecoin may be entering a bullish phase, with key levels to watch for potential price increases. Historical data also supports the idea of an upcoming uptrend, as observed in previous years.

One of the contributing factors to Litecoin's price surge is the accumulation of coins by LTC miners. Miner behavior, along with a spike in open interest, indicates a positive outlook for Litecoin's price trajectory in the near future. This strategic hoarding by miners has tightened the supply, giving bullish investors an advantage in the market.

This information was originally published on BH NEWS.