•TWT/USD is currently priced at $1.04 and has increased by 2.26% over the past day
•The technical indicators suggest a positive outlook for the near term
•The trading volumes have decreased by 20.34% over the past day
Short Term View: Trust Wallet Token wards off the bears
The Trust Wallet Token price today is $1.04 USD with a 24-hour trading volume of $8,989,178 USD. Trust Wallet Token is up 2.26% in the last 24 hours. The trading volumes have decreased over the past day whereas the Volume to Market Cap Ratio stands at 0.02072 for the altcoin.
Trust Wallet Token marked the all-time high of $1.65 on Sep 05, 2021 but was unable to sustain momentum and traded downwards for the next three months. Currently it is in the middle of an uptrend as the Trust Wallet Token price is transacting above the 20,50 SMA on the four hour chart. The altcoin is showing bullish divergence as the 200 SMA is trailing both the 20,50 SMA. If the momentum sustains, the resistance to target for the bulls resides at $1.10 in the short term. On the flip side, the all important psychological support for the altcoin lies at $1, which the bulls will need to defend to sustain the uptrend
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Long Term View for Trust Wallet Token
Trust Wallet Token has raced clear off the bearish momentum and looks on course to scale greater heights. The histograms have consistently been green on the daily chart as the TWT bulls are offering no let off. The movement of the MACD and signal lines into the positive territory further enhance the bullish scope of the altcoin. The RSI for Trust Wallet Token is transacting at 67.59 and the altcoin is continually showing signs of bullish momentum as it heads towards the overbought territory rapidly.
Conclusion
Technical analysis of TWT shows that short-term sentiment in the altcoin is bullish as the bulls remain firmly in control. Hence we are likely to see a continuation of the uptrend which could drive the Trust Wallet Token price even higher.
Support: $1-$0.90
Resistance: $1.10-$1.15
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.