- TWT’s price shows strength as the price breaks out of a downtrend with good volume with eyes set on $1.5.
- The price of TWT rose to $1 after it fell from $0.88. This was in preparation for an uptrend as bullish signals indicated that the price would rise.
- The TWT price trades above the 50-200 Exponential Moving Averages, (EMA) before the daily close.
Bitcoin’s price movements have had a negative impact on most altcoins. Some lost their support but Trust Wallet Token is still showing deep strength. Recent news from the Consumer Price Index had a significant impact on crypto markets. The price of Bitcoin (BTC) fell to $18,200, before rebounding to $19,300. Many altcoins, such as Trust Wallet Token, showed bullish strength. (Data from Binance).
TWT Price Analysis on The Weekly Chart: Trust Wallet Token
The crypto world witnessed a notable development this week, as Bitcoin dropped from $19,000.00 to $18,200 within hours, before rising to an area high of $19,000.800, only to then be rejected back at $19,000. The price movement of many altcoins seems more like a manipulation, with so many losing important support areas.
Recent price movements have seen TWT struggle to recover its bullishness. The stock rose to $1.4, before falling to $0.5. This was the region where TWT prices bounced. Price rallied to a peak of $1.2, showing strong price action and high volume. However, it failed to overcome resistance at $1.4
To trend higher for TWT, it must break the $1.2 barrier and then close below that level. The weekly resistance is what prevents the price from trending higher in this region.
Weekly resistance for the price of TWT – $1.2.
Weekly support for the price of TWT – $0.9.
Prices Analysis of TWT on the Daily (1D), Chart
Recent bear market conditions have seen TWT’s daily price range struggle to hold strong support and prevent it from falling out of favor.
TWT’s price trades at $1.202 as the price continues its range-bound with the price forming a descending wedge above the 50 Exponential Moving Average (EMA); the price of $0.85 corresponds to the 50 EMA, acting as support for the price to break higher.
If we have a $1.2 break and hold by TWT, the price could rally to $1.5 with greater buy volume
Daily resistance for the price of TWT – $1.2.
Daily support for the price of TWT – $0.95.
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