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While TRX’s recent performance shows a declining trend, with a 13% drop in late August, and the possibility of further decline if it doesn’t breach its current resistance, Litecoin has caught the market’s eye by revisiting its $40 level—a critical point that previously sparked a significant rise in 2022, giving hope to LTC investors.
TRX Price Drops to $0.14: Potential Downturn or Recovery?
Since August 25, TRX, the Tron blockchain’s native token, has seen a 13% fall to $0.14. This downturn is accompanied by a 57% reduction in Open Interest, indicating a slump in demand and overall market confidence. The ongoing pattern of lower highs and lower lows suggests possible further reductions.
Currently, with both resistance and support forming at $0.14, TRX could potentially slide to $0.13 if negative trends continue. However, a positive shift in market sentiment could elevate its price to $0.17.
Litecoin Observers Anticipate Potential Uptick from $40 Benchmark
Despite a generally subdued performance over the past four years, Litecoin has reignited discussions with its recent touch on the $40 mark, a pivotal support level from 2022 and 2023.
