Trust Wallet Token Price Analysis: Will TWT Retest $1.12 Level?


  • 24-hour trading volume for Trust Wallet Token is hovering at $25,447,171.00.
  • TWT has its next resistance at $1.12.
  • Current Trust Wallet Token Price is 1.19 dollars
  • TWT/USD pair trading above EMA(20).

29 February 2024 : 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 -1.84 percent, bringing the entire cryptocurrency market to $2,270,459,173,853. The total trading volume stands at $155,608,056,446. Bitcoin shares 53.01 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $61,240.58 level after an upward movement of 1.47%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.07 percent reaching to $3,348.99 during the previous 24 hours.
While publishing this blog, BNB traded at $402.25, following a price change of -1.46%within the same time frame. SOL the native coin of Solana is up by 12.08 and currently trading at $127.33. Additionally, XRP reached $0.60 after seeing a uplift of 4.54% 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 $1.12 Support Level 1 $0.93
Resistance Level 2 $1.22 Support Level 2 $0.84
Resistance Level 3 $1.30 Support Level 3 $0.74

Trust Wallet Token Performance

TWT has recorded a upsurge, gaining 0.97% in last 24 hours. The current value of Trust Wallet Token is hovering at $1.19 with the trading volume of $25,447,171.00 USD in the same timeframe. The overall marketcap for TWT is $497,780,312.00 USD while the coin price changes -0.22% over the week.

Trust Wallet Token Price Analysis

TWT price analysis for 29 February 2024 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) 0.99 Buy
Exponential Moving Average (10) 1.01 Buy
Simple Moving Average (20) 0.96 Buy
Exponential Moving Average (20) 0.97 Buy
Simple Moving Average (50) 0.96 Buy
Exponential Moving Average (50) 0.97 Buy

The MACD line is standing above of the signal line after a positive crossover. Trust Wallet Token investors need to wait for any directional change over the daily chart. RSI implying overbought phase while trading at 79 and a trend reversal is possible for short-term. While TWT’s Williams %R indicator is at -14.686 for the 14-day time period indicating a overbought condition and short term trend price correction is possible. Trust Wallet Token successfully breaks its first resistance level of $1.12. Now TWT has a nearest resistance of $1.22. A bullish breakout in this resistance level would boost the uptrend momentum. The buyers could then target the upper resistance placed at $1.30.

Conclusions

TWT price is moving in sideways direction. The battle between the bulls and the bears can result in moving the coin price in either direction. However, The investors are waiting for Trust Wallet Token to make a one directional move to make a good entry in the market.