The TWT Technical Analysis offers a buying opportunity as the price trend retests the broken resistance trendline and displays a post-retest reversal. The TWT price action shows a successful post-retest reversal of a descending triangle breakout in the daily chart. Furthermore, a bullish pattern arises with a neckline at $1, potentially reaching the $1.18 mark. But the higher price rejection in the daily candle due to the opposing 50-day EMA keeps the bullish growth under check. So, will the buyers beat the 50-day EMA? Key Points: The Trust Wallet Token price action shows a retest phase of a broken resistance trendline. A cup and handle pattern with a neckline at $1 arises in the daily chart. The intraday trading volume in Trust Wallet Token is $8.58 million. Source – TradingView TWT Technical Analysis As mentioned in our previous analysis, the price trend reverses after a successful retest of the broken resistance trendline. Currently, the price trend remains within the 50 and 100-day EMA, projecting a consolidation range in the daily chart. However, the post-retest reversal candle shows higher price rejection from the 50-day EMA, reflecting a strong overhead opposition. Nonetheless, the spike in the trading volume supports the bullish launch from the broken trendline. Source – TradingView Further analyzing the TWT price action, a cup and handle pattern can be seen in the daily chart with a neckline at $1. The bullish reversa...
