- Trust Wallet Token (TWT) price slid 1.46% on the past day and currently trading at $0.82
- Trust Wallet Token’s (TWT) all-time high price is $2.72 (7 months ago) and its all-time low price is $0.0064 (3 years ago)
TWT is a BEP-20 token that gives Trust Wallet users various benefits and incentives. Trust Wallet is a mobile crypto wallet that supports many native and token assets on Ethereum, Binance, and TRON. TWT holders can get discounts on crypto purchases and DEX services, as well as vote on Trust Wallet updates and governance.
TWT’s price is currently trading at $0.82 with a decline of 1.46% in the past 24 hours. According to coinmarketcap data, Trust Wallet Token cryptocurrency holds a total market cap of $343.2 Million and ranks at 94th position in the crypto market. It has received $7.1 Million in volume in the past 24 hours which is 46.1% more than the previous day. Also, It has over 416.6 Million circulating supply which is 41.66% of the total supply. The volume to market cap ratio of TWT coin is 2.24% which indicates low volatility in the market.
Trust Wallet Token Price Prediction Using Price Action Strategy
As per the price prediction of Trust wallet Token cryptocurrency in the weekly timeframe, It was observed that TWT made a bullish rally of 200% from June 2022 to December 2022. It made a shift in trend after getting support from a lower trendline. Since then TWT price has gone into a correction phase and the price has again reached near the same trendline.
Moving over to the daily chart, TWT price is in a short-term correction phase with Trendline as a resistance. The price is taking pullbacks by forming lower highs and lower lows.
Currently, TWT Price has got support from the previous trendline and bounced back by almost 32%. However, TWT could not gain enough buyers to make a breakout from the trendline resistance. Also, Sellers do not seem to take interest as the price is declining but lacking momentum. Now if the price is able to break and sustain above the Trendline resistance then it will result in a short-term trend shift in the market and prices may hike up to $1.14 and $1.75. However, Trust Wallet Token needs more buyers to sustain the lower levels and make a shift in the short-term trend.
Indicator Analysis
As Per the EMA analysis, TWT’s price is below all EMA which shows the correction phase is still not over. Trust Wallet Token has to surpass the hurdles of other EMAs to change its trend.
At the time of publishing, the RSI value of Trust Wallet Token is 35.92 and that of the SMA line is 40.13. RSI bounced back from the oversold zone but failed to continue its journey to an uptrend
MACD lines have made a bearish crossover and currently and histogram bars are being formed below the mean but a lack of momentum indicates a lack of sellers and the price may reverse.
Conclusion
Trust Wallet Token (TWT) coin price prediction concludes that the price seemed to be in a short-term correction phase after a hike in the price by 200% from June 2022 to December 2022. TWT price has again tried to bounce back from the trendline but couldn’t get enough buyers to make a breakout. hence, more buyers need to accumulate at lower levels. Now, if the price is able to break and sustain above trendline resistance then the price may skyrocket soon to form a new high.
Technical levels
- The support levels at $0.73 and $0.51
- The resistance levels at $1.14 and $1.53
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
