Trust Wallet Token Price Analysis: Will TWT Retest $0.94 Level?


  • TWT gained approximately 1.44% within the last 24 hours.
  • TWT/USD pair trading below EMA(20).
  • TWT faces resistance at $0.94.
  • 24-hour trading volume for Trust Wallet Token is hovering at $7,182,724.00.

03 October 2022 : In this article we will walk you through Trust Wallet Token price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Trust Wallet Token, Is TWT a good investment? Trust Wallet Token support & resistance levels etc. But before diving deep into the TWT technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $942,115,587,651. The total trading volume stands at $54,833,502,933. Bitcoin shares 39.77 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,547.55 level after an upward movement of 1.86%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.3 percent reaching to $1,326.36 during the previous 24 hours.
While publishing this blog, BNB traded at $288.62, following a price change of 2% within the same time frame. XRP the native coin of XRP is down by -0.52 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.58% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Trust Wallet Token Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Trust Wallet Token (TWT)

TWT Resistance Levels TWT Support Levels
Resistance Level 1 $0.94 Support Level 1 $0.86
Resistance Level 2 $0.98 Support Level 2 $0.82
Resistance Level 3 $1.02 Support Level 3 $0.78

Trust Wallet Token Performance

The current Trust Wallet Token price is $0.91, with a trading volume of $7,182,724.00 in the past 24-hours. Currently, TWT is up by 1.44% since yesterday with a market capitalization of $377,095,054.00 USD.

Trust Wallet Token Price Analysis

TWT price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Trust Wallet Token.

Moving Averages Price Indicator
Simple Moving Average (10) 0.90 Buy
Exponential Moving Average (10) 0.90 Buy
Simple Moving Average (20) 0.93 Sell
Exponential Moving Average (20) 0.93 Sell
Simple Moving Average (50) 0.98 Sell
Exponential Moving Average (50) 0.98 Sell

The relative Strength Index (RSI) indicates that the TWT coin is near oversold zone, as RSI is at 38. While TWT’s Williams %R indicator is at -62.466 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The TWT/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. In accordance with the conventional pivot, the crucial immediate resistance for TWT may be found at $0.94, followed by $0.98. In the meantime, the cryptocurrency's support levels were located at $0.86 and then $0.82.

Conclusions

As of now, Trust Wallet Token is doing well and is attempting to break out of the reddish zone. In order to invest in the digital currency, crypto investors want to see the TWT move into the positive zone. As far as we can tell, Trust Wallet Token is on its way up. In 2022 and beyond, the Trust Wallet Token price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.