in a situation where bitcoin is currently experiencing a deep correction, it can be ascertained that all altcoins are experiencing it too, not except for ltc of course.
but if we look back with the achievements of ltc, of course it is enough to be a separate reference that ltc is quite reliable.
keep in mind that initially ltc was created with the intention of being a lighter version of bitcoin. with continuous development and recently they released the MimbleWimble protocol testnet (MW), the protocol is used to test confidential transactions and compress transaction data for verification purposes through the Cut Through function.
Litecoin is reliable on other stuffs like for playing gambling or simply for paying/buying because it's fast and cheap but maybe not really in its value because it is not a stable coin but it drops too like a typical volatile crypto. That MW thing that you mentioned might have help ltc value to increase a little but what is the update for that this year?
Litecoin seems silent now as I never heard any news in regards to it but it doesn't mean that it's dead. That cant be and like I said earlier, ltc is a very useful coin so there will always be a demand for it. Litecoin is a top coin and every top coin is expected to have a bright future but for this year, we can't guarantee if it will break a new ath or not.