- As per Coingecko, the community of the TWT crypto is bullish.
- The Trust Wallet Token is outperforming the global cryptocurrency market, which is down by 1.70% in the last seven days.
Trust Wallet Token (TWT) is a BEP-20 token that provides value and incentives to Trust Wallet users. It allows them to vote on wallet updates, enjoy discounts on DEX trades and in-app purchases, and stake for rewards. It was launched by Trust Wallet founder Viktor Radchenko on the Binance Smart Chain.
At the time of writing, TWT is trading at $1.19 with an intraday gain of 0.45%. Moreover, the intraday trading volume also showed an increase of 7.36%, which resulted in $25.255 Million. The market cap of TWT is $495.85 Billion.
The current market cap dominance of TWT is 0.03% and the volume/market cap ratio is 0.0528. Moreover, the market cap ranking, as per CoinGecko, is #116.
However, the all-time high price of TWT is $2.72 and the CMP is down by 56.15% from the all-time high price. The lowest recorded price of the crypto is $0.00277641.
Trust Wallet Token Overview
The TWT crypto has a total supply of 999.668 Million along with a circulating supply of 416.6498 Million, which is 41.66% of max supply. Moreover, the max supply of the crypto is 1.0 Billion and the fully diluted market cap is $1.188 Billion.
TWT Technical Analysis
The TWT crypto has been taking support at a dynamic trendline for a long time. The price has increased by more than 100% by hitting the dynamic trendline in the most recent scenario. It is currently above the trendline.
TWT/USD Chart by TradingView
The TWT crypto has witnessed huge decline after hitting the most recent swing high of $1.82. Thus, the level of $1.82 has become the most crucial resistance for the short term and if the crypto breaks above the level, it might lead to new highs.
The crypto has broken above the crucial EMAs like the 50-day and the 200-day EMAs, indicating bullish momentum. Additionally, the EMAs have formed a golden cross on the daily chart.
The RSI seems weak on the daily charts as it is situated below the 50-level. It has declined below the 14-day SMA. This shows the possibility of a lack of momentum in the price. If the RSI fails to break above the level of 50 and sustain there, the price might begin to decline.
Conclusion
TWT is a utility token for Trust Wallet, a popular multi-crypto wallet app. It has a bullish community and a strong market cap. However, it faces a major resistance at $1.82 and the RSI is also giving a weak signal. As of now, the price could go either way depending on the market sentiment and demand.
Technical Levels
Support Levels: $0.277 and $0.740
Resistance levels:$1.884 and $2.6540
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.