TWT Price Prediction: Trust Wallet Partners with Ramp and MoonPay

Trust Wallet collaborated with payment systems to allow conversion of digi-assets holdings to fiat.
TWT price rose by more than 20% in the past few days, due to the new partnership.

Trust Wallet joined forces with payments systems – Ramp and MoonPay – to facilitate easy conversion for customers. The development triggered a price rally in TWT price. The alliance will allow customers to convert their digital assets into fiat. Users who own more than 100 TWT are eligible for a discount upon withdrawals. Trust Wallet, along with Ramp and MoonPay, aim to provide users with easy access to their crypto holdings solely through their self-custody wallet, and not relying on centralized entities.

Trust Wallet will now provide users with almost all services under the same roof, allowing users to manage their digital assets. Trust Wallet has, ever since the FTX fiasco, emphasized the importance of self-custodial wallets and how decentralization is the essence of crypto.

Price Jump Follows TWT’s Collaboration with Ramp & MoonPay

TWT price surged for three consecutive trading sessions, and rose by more than 20%. The trading volume also saw a spike as buyers flooded the market since the partnership and the planned development were announced. The rising TWT price may soon reclaim the 100-day EMA and 200-EMA, establishing a strong bullish rally. The uptick in OBV indicates optimism. The price may face resistance near $1.4950, but if breached, it could reach $1.70.

At press time, TWT price seems to be facing sellers who wish to book profits out of rising prices. The CMF after sharply rising, falls back to the negative zone, indicating over-powering sellers. The MACD forms a bullish divergence and records steady buyer action. The RSI shoots to the 55-range and then goes horizontal indicating a fundamentally strong bullish momentum.

A Smaller Purview

In the shorter time frame, TWT price faces rejection and retraces. The CMF falls deep into the ranges suggesting bearish momentum. The RSI returned from the overbought zone, supporting the price reversal. The MACD shows signs of convergence and begins to record shorter buyer histograms. The short term indicators suggest prices could encounter a sudden bearish swing and fall.

Conclusion

TWT price rose after announcement of the partnership with Ramp and MoonPay, and faced sellers wishing to book profit. The steep fall in price could be temporary and may rise again amid developments regarding the partnership and their plans. TWT holders can rely on the support near $1.1420, and look out for a retracement.

Technical levels

Support levels: $1.1420 and $1.0980

Resistance levels: $1.4950 and $1.7090

Disclaimer

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

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing