Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
Trust Wallet crypto price is in a strong uptrend, trading near the resistance level of $1.19. Buyers are aiming to break through the obstacle and achieve a new high. TWT crypto has soared more than 1.87% in the last trading session. The price trading above the key moving averages indicating bullishness.
The price action indicates that TWT crypto has broken above the multiple tops, showing the bulls’ strength who kept making long positions.
At press time, Trust Wallet crypto was trading at $1.05019285 with an intraday minor gain of 1.87%, breaking above the 200-day EMA, and showing bullishness on the charts. Moreover, the intraday trading volume is 23.743 Million. The market cap of Trust Wallet crypto is 437.563 Million.
The oscillators are currently indicating that the price is overbought. The investors are optimistic regarding the upcoming week’s performance.
Trust Wallet crypto price saw a slight increase of about 9.44% over the past week and a modest gain of 29.78% over the past month. However, the crypto has not performed well over the longer term, as it fell by about 14.96% over the past six months, and by about 25.99% year to date.
Technical Analysis of Trust Wallet Crypto Price in 1-D Time Frame
Trust Wallet crypto price has risen steadily for the past one month, gaining 23.87%. Currently, TWT crypto is trading at $$1.05019285 and has been trying to hold on to this level.
If it can stay this level, the Trust Wallet price could continue to go up and reach the first and second targets of $1.06235876 and $1.19317129. However, if the TWT price cannot maintain this level and falls, then it might hit the closest support levels of $0.97193066 and $0.90869038.
Currently, Trust Wallet crypto is trading above the 50 and 200-day exponential moving averages (EMAs), which are supporting the price momentum.
However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the Trust Wallet price is expected to move upwards giving bullish views over the daily time frame chart.
The current value of RSI is 63.62 points. The 14 SMA is above the median line at 67.23 points which indicates that the Trust Wallet crypto is bullish.
The MACD line at 0.06104367 and the signal line at 0.05636098 are above the zero line. A bullish crossover is observed in the MACD indicator which signals strength in the momentum of the TWT crypto price.
Summary
Trust Wallet technical oscillators support the bullish trend. The MACD, RSI, and EMAs are emphasizing positive signs and imply that the uptrend may continue in the TWT crypto price. Price action suggests that the investors and traders are bullish on the 1-day time frame. The price action reflects a bullish perspective at the moment.
Technical Levels
Support Levels: The Trust Wallet crypto price may find support at $0.97193066 and $0.90869038, where it could bounce back or stabilize.
Resistance levels: The TWT crypto price may face resistance at $1.06235876 and $1.19317129, where it could reverse or consolidate.
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 own research before making any financial decisions.
Source: https://www.thecoinrepublic.com/2023/10/21/trust-wallet-crypto-will-twt-crypto-price-reach-the-2-level/