Finance

PayPal trap attacks the TWT markets and makes it kneel

12/01/2022
Bitcoin Ethereum News

Trust Wallet Token Price Prediction

  • Recent PayPal controversy involves TWT and makes prices fall.
  • The Trust Wallet PayPal fraud intrigued the negative sentiments of the investors.
  • Its price fell by about 5%, close to $1.

The recent TrustWallet PayPal trap involved many people and affected the masses. Many people were sent anonymous invoices out of the blue, leaving the crowd in question. This, as we can guess, affected the TWT token ’cause of its involvement, regardless of direct or indirect. The prices hit rock bottom in over a day and left the investors in vain.

Let the charts do the talking 

Source: TradingView

The price falls with greater amounts, and increasing selloffs are observed. The price is seen falling closer to $0.97 support level and remaining stagnant. It may further fall from there and form a new resistance around $1.04. The Bollinger bands move closely following the bearish trend and crypto winter if looked at in the bigger picture.

Source: TradingView

The RSI indicator falls to the 30-50 range, where sellers are slightly more active than buyers. It may lay closer to the 30-mark limit. The MACD line undergoes a bearish divergence and may embark on the journey to becoming a full bear market. 

The closer window

Source: TradingView

The 4-hour view shows the RSI indicator moving into bounds of the 30-50 range. It may continue as the chances of improvement in the near future are blurry. The MACD indicator converges back with the signal line, showing that the market may land on its feet and become slightly stable.

The price is falling amidst the negative news about the probable fraud of trust wallet and PayPal, which troubled the masses. The market may face the ongoing trend for quite some time and continue to fall to further low points.

Conclusion 

This token is the perfect example of how bad company affects our image. A minute involvement in the controversy makes the market tumble down and hit the ground. The prices show no improvement, and no further strategies appear to clear out this blame and start afresh.

 Technical levels

Support level: $0.97 & $0.84

Resistance level: $1.27 & $1.36

Source: https://www.thecoinrepublic.com/2022/12/01/paypal-trap-attacks-the-twt-markets-and-makes-it-kneel/