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- 1 Trust Wallet Token (TWT) price surged nearly 10% in the last 24 hours and is currently trading at $0.894.
- 2 Trust Wallet Token price has experienced a hike of over 15% in the last week.
- 3 The daily chart illustrates the breakout of a descending channel pattern.
Trust Wallet Token price lifted off nearly 10% in intraday and is expected to gain more by the end of today’s session. Currently, the price trend is under the control of buyers and trades above the 50-day EMA and has a gap to the upside indicating that it might reach the 200-day EMA.
The TWT/USD daily chart witnesses the breakout of a declining channel pattern. The breakout is backed by an accumulation near the lows. TWT has experienced a breakout after an accumulation of over 20 days indicating a shift in the short-term trend.
Trust Wallet Token holds a market cap of $373.15 Million and ranks 83rd in the overall crypto market. The volume analysis shows that the TWT crypto has received $186.75 Million volume in the last 24 hours which is 495.3% more than the last day. The volume-to-market cap ratio is 49.84% indicating high volatility in the crypto.
Trust Wallet Token Price Prediction For 2023
The price prediction analysis of the TWT crypto illustrates that the breakout is backed by a volume rise which indicates that the price has the potential to surge further. The nearest resistance is at $0.97 and the 200-day EMA might halt the price trend further.
The average analyst price target for Trust Wallet Token in 2023 is $1.10, which represents a potential upside of 22% from the CMP. However, there is a wide range of analyst price targets, from $0.8 to $1.10. The most optimistic 2023 price target for TWT crypto is $1.10.
Technical Indicators Shows Optimistic Trend in Short Term
MACD lines are showing an optimistic crossover. Also, histogram bars are formed above the mean line of increasing height, indicating the momentum is aligned with the TWT price at the moment and the price might gain more in the coming sessions.
The EMA analysis shows that the TWT price has recently shown a breakout of the 50-day EMA indicating bullishness in the short term. The TWT price might show more gains to reach a 200-day EMA.
Conclusion
Trust Wallet Token (TWT) price rose 10% and broke out of a declining channel pattern. The price is above the 50-day EMA and may reach the 200-day EMA at $0.97. The volume has increased by 495.3%, indicating high volatility and potential for further rise. The market cap is $373.15 Million and it is ranked 83rd. The average analyst price target for 2023 is $1.10, with a range of $0.8 to $1.10. The highest target implies a 22% upside from the current price.
Technical Levels
- Support Levels: $0.81 and $0.75
- Resistance Levels: $0.97 and $1.10
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 or stock comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
