Trust Wallet Token (TWT) Price Prediction – When will TWT hit $3?
Trust Wallet is a cryptocurrency wallet with over 25 million users that allows users to send, receive, and store digital assets and collect NFTs. It provides a dedicated crypto card for accessing a variety of cryptocurrencies, prioritizing privacy, security, and instantaneous exchanges, thereby preventing hackers and scammers. Additionally, Trust Wallet allows users to earn a return on their crypto assets.
Trust Wallet has a unique feature that enables the exchange of digital assets in real time without uploading forms or images. It protects user privacy by not collecting personal information. The wallet is also a browser for decentralized applications (DApps), allowing users to access these applications without leaving the wallet.
TWT is the native cryptocurrency of Trust Wallet, used to provide access to the crypto space and reward users. TWT also serves as a governance token, allowing its holders to vote on crucial new features, tokens, and network support decisions. Trust Wallet collects transaction fees from users for activities involving TWT tokens, such as payments and access to various DApps.
The trading volume of this instrument has increased over 200% to $70,164,714, while the overall market cap remained at $558,873,422.
Should you invest in Trust Wallet Token (TWT)?
Let’s see the Trust Wallet Token (TWT) Price Prediction from the TWT/USDT technical analysis:
TWT/USDT Is Trading On Sellers’ Area
In the daily price, an upside pressure was seen before 2023, but an immediate recovery raised a question about its sustainability. The buying possibility has not faded, as the current price is still above the critical bullish order block.
In the most recent price, downside pressure is clear from the bearish crossover in dynamic lines. The 100 SMA is above the price, and 20 EMA crossed below it, signaling a selling pressure in the market. Also, the bearish possibility is potent for the high volume level.
The highest trading volume level from December to February is at 1.4520 level, which is above the current price.
The indicator window shows a similar outlook where the current RSI level moves downwards below the 50.00 level.
Based on the Trust Wallet Price Prediction, 100 SMA, 20 EMA, and high volume level signal selling opportunities in this pair. In that case, the price is more likely to extend the current descending channel by testing the 0.9895 support level. Any minor bullish correction and bearish candlestick formation from the 1.4500 to 1.5800 area could offer a short opportunity.
The alternative approach is to find the price above the 1.5850 level with a strong D1 candle before aiming for the 2.2000 level.
TWT/USDT Ichimoku Cloud Analysis
In the H4 timeframe, a minor bullish channel breakout is seen, but the overall structure is still bearish. Sellers are strong for a considerable time by holding the downside momentum below the Ichimoku Cloud resistance.
In the future cloud, the bearish pressure is solid as the Senkou Span A is below B, while dynamic levels are working as resistance. A stable trend is visible from the ADX indicator, which is above the 20.00 line.
Based on the H4 Trust Wallet Token Price Prediction, any bearish pressure with an H4 candle below the dynamic Kijun Sen could resume the bearish trend towards the target of the 1.1450 area. However, a bullish break above the 1.4317 level could eliminate the bearish possibility to test the 1.7000 level.
TWT/USDT Intraday Price Action Analysis
In the hourly chart, the current price faces critical resistance at the high volume level of 1.3287. A stable price above this level would indicate strong buying pressure that can increase the price toward the 1.4400 level in the coming hours.
A strong channel breakout is seen on the buyers' side with a valid retest from the 1.2953 support level. The dynamic 20 EMA works as confluence support, while the dynamic VWAP is also below the price.
The indicator window shows the same story where the current MACD Histogram is above the neutral line. MACD Lines are bullish above the zero line to move higher.
Based on the H1 TWT price prediction, the buying possibility is solid until exhaustion from the 1.3287 high volume level. The primary aim of the buying pressure is to test the 1.4400 psychological level.
On the downside, an immediate recovery with a bearish H4 candle below the dynamic 20 EMA could resume the bearish trend toward the 1.2100 level.
Is TWT/USDT A Buy?
Based on the current price outlook, TWT/USDT is trading within a corrective price action, where a strong bullish channel breakout could initiate a bull run with a 57% profit possibility. Investors should monitor the intraday price action to find a valid buying zone from the H4 Kijun Sen level.
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