Trust Wallet Token Price Prediction: Is TWT on the Verge of a Breakout?

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Trust Wallet Token (TWT) price is attempting a recovery rally, recording a 10% surge in just about a week.

In the last day, TWT is up almost 5% with the potential to soar higher. Momentum is rising, as indicated by the ascending Relative Strength Index (RSI).

Its position at 58 and edging north shows significantly robust price strength. Also, there is more room to cover north before hitting 70 where the “overbought” narrative would activate.

This thesis is supported by the overall appearance of the Awesome Oscillators (AO). The AO’s histogram bars have continually flashing green, all the while trying to flip into the positive zone. This adds credence to the bullish thesis.

Increased buying momentum could see Trust Wallet Token price shatter the resistance presented by the 50-day Exponential Moving Average (EMA) at $0.8126. A break and flip of this hurdle into a support floor would pave the way for TWT to escape from the foothold of the descending trendline.

Even past this foothold, two formidable roadblocks must be overcome before the Trust Wallet Token price can be considered to be in an uptrend. Meanwhile, it remains a recovery rally.

The two formidable roadblocks are the confluences between horizontal lines and the 100- and 200-day EMAs at $0.8623 and $0.9650 levels respectively. These supplier congestion levels represent areas of aggressive selling, meaning TWT could be rejected here. Traders taking long positions must therefore factor these in their targets.

Trust Wallet Price — TradingView: TWT/USDT 1-day chart

Converse case

On the flipside, a rejection from the descending trendline seems to have already been priced in. A subsequent repulsion from the 50-day EMA at $0.8126 could seal the fate of Trust Wallet Token price under the descending trendline. This could see TWT drop towards the support floor at $0.7308, representing a 10% fall below current levels.

Currently, it appears traders who bought Trust Wallet Token at around $0.7567 before the rally began are already booking profits. This threatens the upside momentum for TWT and could kickstart a rally south.

Meanwhile, the Trust Wallet ecosystem recently announced the integration of the new Trust Wallet extension on Chrome Web Store. This means users can actively swap between Ethereum virtual machine (EVM) ecosystems, purchase crypto, and enjoy ledger support services, among other value additions.

The new #TrustWalletExtension update is out in the Chrome Store! (V 1.9.1): https://t.co/ffuwQXlqOp

Enjoy native #EVM swaps, #crypto purchases, Ledger hardware support & more!

Plus, you can now choose skippable backup to jump right in. Here’s how easy it is to get started👇 pic.twitter.com/7WlFi13Esw

— Trust Wallet (@TrustWallet) October 3, 2023

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Trust Wallet Alternative

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Always time for a quick play. 🎰 pic.twitter.com/PLRJS44KeE

— TG Casino (@TGCasino_) October 3, 2023

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24 Hours left and the competition is hot 🔥

Any bet could win it 🎰 https://t.co/rnhnJFthGl

— TG Casino (@TGCasino_) October 3, 2023

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