The cryptocurrency market experienced a sell-off on Tuesday due to a decline in Bitcoin's value. This drop led to a correction in major altcoins, but Litecoin showed resilience by remaining above $93.

Litecoin's price recovered by 6.8% intraday, surpassing $105, as buyers continued to accumulate during market dips. Often referred to as the silver to Bitcoin's gold, Litecoin saw a resurgence from its $77 support level in March, leading to a 46% increase and reaching a 9-month high of $112.8. Buyers broke out of an ascending triangle formation on March 29th, indicating a significant change in market dynamics.

Analytical reports from IntoTheBlock reveal that Litecoin is one of the few top 100 tokens currently trending upwards after being classified as a commodity by the CFTC. Approximately 75% of LTC holders are now seeing profits from their investments. If Litecoin maintains its upward trend, it could target $195. However, there is an on-chain resistance level at $150, where a concentration of LTC holders may sell off to break even.

Overall, Litecoin has shown market resilience and a positive growth trajectory amidst recent market fluctuations.