Trust Wallet Token (TWT) Shows Bullish Signs, Will Price Breach $1.5?

1 month ago 37
  • TWT’s terms shows spot arsenic the terms breaks retired of a downtrend with bully measurement with eyes acceptable connected $1.5. 
  • TWT bounced from a debased of $0.88 arsenic the terms rallied to a precocious of $1, preparing for a rally arsenic the terms showed bullish signs. 
  • The terms of TWT continues to commercialized supra 50 and 200 Exponential Moving Averages (EMA) up of the regular close. 

The terms actions shown by Bitcoin (BTC) person affected astir altcoins negatively arsenic immoderate person mislaid their cardinal support, but Trust Wallet Token (TWT) continues to amusement immersed spot arsenic terms breaks retired of a agelong downtrend movement. The Consumer Price Index quality released precocious had a large woody of effect connected the crypto marketplace arsenic the terms of BTC declined to a debased of $18,200 earlier a bounce to $19,300, with galore altcoins similar Trust Wallet Token (TWT) showing bullish strength. (Data from Binance)

Trust Wallet Token (TWT) Price Analysis On The Weekly Chart

A notable lawsuit successful the crypto abstraction this week was the crisp diminution successful the crypto marketplace pursuing the merchandise of the CPI news; the marketplace appeared to beryllium manipulated, with Bitcoin (BTC) dropping from $19,200 to $18,200 successful hours and past backmost up to a scope precocious of $19,800 earlier rejection backmost to $19,200. With truthful galore altcoins losing cardinal enactment areas, this terms enactment appears to beryllium much of a manipulation.

The terms of TWT has struggled successful caller times to reconstruct its bullish strength, rallying to a precocious of $1.4 earlier seeing a rejection successful terms to a debased of $0.5. TWT terms bounced from this portion arsenic terms rallied to a precocious of $1.2, showing bully terms actions with beardown measurement but failing to flip the absorption astatine $1.4

For the terms of TWT to inclination higher, the terms needs to interruption and adjacent supra $1.2 arsenic the terms is faced with a play absorption to inclination higher successful that region.

Weekly absorption for the terms of TWT – $1.2.

Weekly enactment for the terms of TWT – $0.9.

Price Analysis Of TWT On The Daily (1D) Chart Daily TWT Price Chart | Source: TWTUSDT On Tradingview.com

The regular timeframe for the terms of TWT has precocious seen the terms conflict to withstand the existent carnivore tally holding beardown enactment to forestall the terms from being sold out.  

TWT’s terms trades astatine $1.202 arsenic the terms continues its range-bound with the terms forming a descending wedge supra the 50 Exponential Moving Average (EMA); the terms of $0.85 corresponds to the 50 EMA, acting arsenic enactment for the terms to interruption higher. 

With a interruption and clasp of $1.2 by TWT, we could spot the terms rally with much bargain measurement to a precocious of $1.5

Daily absorption for the terms of TWT – $1.2.

Daily enactment for the terms of TWT – $0.95.

Featured Image From zipmex, Charts From Tradingview
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