Trust Wallet Token Price (TWT) looks attractive below $1.00?

• Trust Wallet Token Price up by 22% in the previous week and momentum still continued.
• TWT token price showed V-shaped recovery and trying to climb above the 50 day EMA.
• The Trust Wallet Crypto witnessed a sharp spike in the buying volume.

Trust Wallet Token Price showed a V-shape recovery from the recent swing low at $0.7000. 

TWT Price rose 22% in the previous week and buyers are trying to regain the $1.00 mark. However, the price is near to the 50 day EMA which will act as an immediate hurdle for the bulls. 

TWT crypto is in downtrend because the 200 day EMA is placed much higher than the current price. Well, if the buyers are able to push the price above the 50 day EMA then short term trend reversal will be visible. 

In the past few months Trust Wallet Token Price consolidated in the narrow range between $1.0000 to $1.4000. It showed signs of long term base formation and investors expected the range expansion. 

In the beginning of June, Sellers took over the control and prices showed a sudden fall which triggered panic selling. Well, the downfall looks temporary and prices are expected to enter the previous range soon. 

Trust Wallet Token Price is trading at $0.9512 with an intraday rise of 0.34%. The 24 hour volume to market cap is 4.57%.The TWT/BTC pair is 0.00003281 with an intraday decline of -1.88%. 

Will the recovery continue in Trust Wallet Token

Trust Wallet Token Price Prediction suggests significant rise is possible in the long run. However, Presently the TWT Price is in bear grip and it will take time to recover. If the buyers succeed to regain the $1.00 mark then it will surely boost the confidence of investors. 

However, the price will pick up the positive momentum when buyers will break out of the $1.4000 hurdle level. On the other hand, if Price faces rejection from $1.00 then bears will try to test the previous low again. 

The technical analysis suggests, TWT Price is in the recovery mode and more upward momentum is possible. 

TWT Price: Technical Outlook 

TWT Price formed a bullish reversal candle on the weekly time frame and buyers trying to break the previous week high. In the recent up-move the volume also increased rapidly which shows that some genuine buyers have taken the risk to build a long position. 

The MACD curve takes a U-turn and generates a sharp positive crossover. It indicates responsive buyers are highly active on lower levels and bullish momentum might continue. The RSI curve at 51 sloping sideways denotes price is near to the neutral territory and might consolidate for some time.

Conclusion 

Trust Wallet Token Price showed a sharp bounce from $0.7000 support. The TWT Price is in recovery mode and buyers are trying their best to reclaim $1.0000 level. 

The technical analysis says, The recovery in TWT crypto might continue because price is currently at attractive levels. 

Technical levels

Resistance levels: $1.4000 and $1.8500

Support levels: $0.7000 and $0.5500

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.