The TWT price action exits the rising wedge to challenge sellers at the overhead resistance at $1.18. Will buyers beat the opposition? Key Technical Points: The Trust Wallet Token (TWT) price has increased by almost 25% in the last two weeks. The bullish spread increases between the 50 and 200-day SMA, reflecting a strong underlying bullishness. With a market cap of $476 million, the intraday trading volume of Trust Wallet Token has decreased by 42% over the last 24 hours to reach $11.78 million. Past Performance of TWT As mentioned in our previous article, The Trust Wallet Token (TWT) price trend exits the rising wedge pattern in the daily chart. The breakout rally which beta overhead assistance of $1 mark resulting in an 18% price jump to reach $1.18 resistance level. However, a loss of bullish momentum results in a retracement to retest the bullish breakout of the psychological mark. Nonetheless, the buyers have regained trend control and are planning to exceed the $1.18 resistance level. Source – Tradingview TWT Technical Analysis The TWT technical chart shows a lateral trend below the $1.18 resistance level, with the recent bullish candle displaying a growth of 2.87%. However, despite the increased bullish influence, traders must wait for a price action confirmation to avoid a bearish reversal. The chance of a bullish crossover between the 100 and 200-day SMA increases as the Trust Wallet Token’s market price sustains abo...
