•TWT/USD is currently priced at $1.21 and has increased by 3.90% over the past day
•The technical indicators suggest a positive outlook for the near term
•The trading volumes have increased by 122.30% over the past day
Short Term View: TWT amongst the most abuzz as bulls lead the charge
The Trust Wallet Token price today is $1.21 USD with a 24-hour trading volume of $19,316,051 USD. Trust Wallet Token is up 3.91% in the last 24 hours. The trading volumes have increased manifolds over the past day whereas the Volume to Market Cap Ratio stands at 0.03838 for the altcoin.
Trust Wallet Token has been falling since reaching an all-time high price of $1.65 on Sep 05, 2021. The asset has shown signs of recovery recently as it is currently transacting above the 20,50 SMA on the four hour chart, amid significant buying pressure. The buyers’ bullish objective is set at $1.40. A bullish break in this resistance would boost the sentiment amongst the investors. The buyers could then target the resistance located at $1.50. An alternative scenario of moving into a downward trend without a local increase in TWT price will take effect only after testing the local mark of $1 and fixing the price below it.
Long Term View for Trust Wallet Token
The RSI for Trust Wallet Token is within touching distance of the overbought territory and is currently transacting at 68.89, which lends credence to the bullish bias. On the other hand, the histograms have been in the green for more than two weeks now as the TWT bulls have continued grinding and have forced their way through. In spite of a slight rush of blood from the bears, the sentiment regarding Trust Wallet Token is still overwhelmingly bullish as the MACD and signal lines continue to transact in the positive territory.
Conclusion
In the short term, the general bullish sentiment for TWT is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements. The next couple of days will provide us with an insight into the future course of the coin.
Support: $1.10-$1
Resistance: $1.40-$1.50
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.